FDA approves first treatment for rare form of skin cancer
The US Food and Drug Administration yesterday granted accelerated approval to Bavencio (avelumab) for the treatment of adults and pediatric patients 12 years and older with metastatic Merkel cell carcinoma (MCC), including those who have not received prior chemotherapy.
Bavencio, from German life sciences company Merck KGaA (MRK: DD) and US pharma giant Pfizer (NYSE: PFE), is a programmed death-ligand 1 (PD-L1) blocking human IgG1 lambda monoclonal antibody.
Merck’s shares advanced 2.9% to 105.10 euros in morning trading today, while Pfizer was barely changed after-hours on Thursday. As part of the potential $2.8 billion deal with Pfizer, Merck is now eligible to receive up to $2 billion in regulatory and commercial milestone payments from the US firm.
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