Cancer drug approved

Vectibix is for the treatment of advanced colon cancer and is considered one of Amgen's most promising drugs. It was given priority review status by the FDA after showing effectiveness in slowing tumor growth. Priority review is given to drugs that offer major advances in treatment or provide a treatment where no adequate therapy exists. Thousand Oaks-based Amgen said it will be on the market next month. The stock was up 2 percent for the day - not a whole lot considering the news (colorectal cancer is the third most common cancer), but perhaps it's because the announcement was made late in the session.