this link is directly from AMGEN -please read

http://www.amgen.com/media/media_pr_...leaseID=910461

Amgen Inc. buying Avidia Inc.
Newscom

September 29, 2006

Amgen Inc., a California biotechnology company, is buying Avidia Inc., which is developing a protein-based class of drugs known as Avimer.

Avidia is engineering Avimer therapeutics against multiple validated and novel targets, for use in treating inflammation, and in oncology and neurology.

Amgen will pay $290 million cash, net of existing cash balances and Amgen's existing equity stake in Avidia, and up to $90 million upon the achievement of certain milestones.

Following the completion of the transaction, Avidia will become a wholly owned subsidiary of Amgen.

Copyright 2006 by United Press International

Biotech giant Amgen (AMGN - news - Cramer's Take) has introduced a financial-assistance program capping out-of-pocket copayments for cancer patients taking its drug Vectibix.

In addition to pricing the drug 20% below other anticancer antibodies on the market, the Amgen Oncology Assistance program will provide help for patients who are uninsured, underinsured, or unable to afford their insurance copayments.

"We recognize that treating cancer is expensive and our industry needs to find new ways to ease the financial burden on cancer patients, their families and society. Our goal is to create the most comprehensive oncology access program in the industry," said Kevin Sharer, Amgen's chairman and CEO.

According to the program, Vectibix co-payments will be capped at 5% of a patient's adjusted gross income in the U.S., regardless of their insurance status. Once a patient reaches the cap, he or she could be eligible for a program that provides the drugs at no cost to patients with household incomes of up to $75,000 a year.

Vectibix received clearance from the Food and Drug Administration on Wednesday. The drug is intended to treat colorectal cancer.

The company said it also plans to donate millions of dollars to independent third-party patient-assistance programs to help uninsured or low-income patients.




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Heres an interesting statement about this new drug:

Amgen's colon cancer drug Vectibix was approved by the FDA based on the results of a clinical trial, which enrolled 463 patients with metastatic cancer of the colon and the rectum who underwent treatment with chemotherapy drugs. In patients who were treated with Vectibix, the mean time to disease progression or death was 96 days compared to 60 days who received standard chemotherapy treatment. In addition, the size of the tumors was reduced by over 50% in 8% of the patients who were administered Vectibix.

So patients are getting an extra 5 weeks with this "discounted" drug?


http://www.finwin.com/finwin/home/he...9895013&id=997

paula

fOR OUR FRIENDS THAT WERE IN THE - GDNF TRIAL
IN COMPARISON -THE GDNF PATIENTS HAD A GREAT SUCCESS!!!

OUT OF THEIR OWN FACTS - THIS IS A POINT OF DISGUST!
WOW!
THANK YOU PAULA!