It seems the media is all over JNJ's potential cancer screening drug. I realize this drug is several years from generating any revenue but this the most positive news this company has had in several years. I just wonder how JNJ will fail with this one?
From what I see, this is not a drug, but a diagnostic system from Veridex, a division of Ortho Clinical Diagnostics. As it is, this will probably be more of a capital equipment sale combined with very strong clinical support--not the standard sales force
This announcement is a double edged sword. Good for what it is defined as, but how will the public react to its dark side? Life insurance companies will be the first to "screen" subscribers and deny coverage or eiliminate existing policy holders. Of course, health insurance companies will follow. First it was pre-existing conditions, now it's potentially existing conditions. Let's move to Canada.
It is a pure public relations play by J&J PR department to try to deflect the attention off of the recalls and bad stock price that continues to disappoint.
According to this morning's media coverage, the diagnostic tool (a blood test) is in its infancy and, if it finally does come to market, will be used in patients with pre-existing cancers to assess for recurrence and only following other diagnostic tests (e.g., biopsy)
It sounds good but most experts indicate it may take 10 yrs until this product will get through all the clinical studies necessary for approval.
It's a blood chemistry analyzer under the Ortho Clinical Diagnostics - Veridex umbrella. A small amount of protein will circulate in the blood if you have a tumor, etc etc.. it's already on the market and costs about 100k plus reagent to run. Know we are partnering with a pharma company to work with a medicine that may lower levels of the circulating tumor cells, hence kill cancer, but nothing is approved. Oncologist love it, too bad everyone is broke and can't buy it!!!!!!
