Genentech, and the temptation of the dark side
Committing your biotechnology giant to “the best interests of patients,” as Genentech CEO Arthur Levinson does on its his company’s Web page, is certainly a fine sentiment.
But what if you restrict use of a drug used by many elderly individuals to ward off encroaching blindness? That’s what Genentech did last week, when it announced new limitations on the distribution of its cancer drug Avastin. That drug is a certifiable hit — and dirt cheap — also treated macular degeneration, a progressive eye disease of the elderly.
The problem for Genentech is that it also sells a newer and far more expensive related drug called Lucentis, which runs close to $2,000 per monthly shot. By contrast, Avastin, only cost about $40 a shot. Read the story about why Genentech has limited the use of that cheaper, very successful drug, by David Hamilton, of VentureBeat LifeSciences. It’s dispiriting.
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About the Author, Matt Marshall
Matt launched VentureBeat in September of 2006, with the realization that no one else was covering the entrepreneurial and tech innovation scene with the velocity or depth that he was. Prior to founding VentureBeat, he covered venture capital for the San Jose Mercury News from 2001 to 2006. In 2002, Matt was awarded "Journalist of the Year" by the Northern California Society of Professional Journalists. Prior to working at the Merc, he was a correspondent for the Wall Street Journal in Bonn, Germany from 1995 to 1998, and a writer for the Washington Post in 1994. Matt holds a PhD in Government and an MA in German and European Studies from Georgetown University. In addition to VentureBeat, Matt is also the Executive Producer of DEMO, the leading launchpad event for emerging technologies.
