The US Food and Drug Administration has confirmed the approval of a new prostate cancer drug developed by Medivation and Astellas Pharma for men who have failed to respond to hormone therapy and chemotherapy.
The drug, known as Xtandi, belongs to a new class of drugs known as androgen inhibitors and works by interfering in testosterone's ability to bind prostate cells together. The drug will reportedly cost $7,450 for a 30-day supply with analysts predicting that the sales will reach $1.2 billion by 2017.
The approval has been backed by a number of experts and FDA's director of hematology and oncology products, Richard Pazdur said that it will help extend lives of the patients. "The need for additional treatment options for advanced prostate cancer continues to be important for patients. Xtandi is the latest treatment for this disease to demonstrate its ability to extend a patient's life", he said.