The FDA has asked to see more data on Avastin before it can be approved for advanced breast cancer. News of the agency's decision sliced five percent off of the biotech giant's shares. The agency has requested an independent review of patient scans for progression-free survival. At least one analyst says that the FDA's move will delay a new approval for expanded use by a full year. Nevertheless, the setback was relatively small for Genentech, one of the most successful biotech companies in the world.
- here's a MarketWatch report on Avastin