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Biotech / Medical : Geron Corp.

GERN 1.280

+2.8%

3:59 PM EDT

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From: Savant	11/29/2011 11:18:51 AM
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Research from BioMed Tracker and BIO claims that the cancer drug success rate is a mere 4.7 percent. Upon revealing the study, the agency's Oncologic Drugs Advisory Committee endorsed several FDA proposals for tightening the accelerated approval standards. Studies from the Friends of Cancer Research advocacy group find that new cancer drugs are approved in just six months on average in the United States -- half the time it takes for the same drugs to be approved in Europe. "When we realized we were correct, we thought, 'No one is going to believe us because this goes against urban legend,'" said Ellen V. Sigal, chairwoman and founder of Friends of Cancer Research. User fees from the Prescription Drug User Fee Act of 1992 have helped provide the FDA with resources to shorten drug review times. The Act is up for reauthorization next year, and the Friends of Cancer Research argue that the speed of drug review times might not be as high a priority as achieving other objectives in advance regulatory science. paragonreport.com * I suppose from a business standpoint, switching the focus to cancer drugs makes sense, but it's a pity, for those in need, that stem cell research could help.

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