 | | Medivation Has 25% Upside Based on Results That Will Be Presented at ASCO for Prostate Cancer
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Prostate cancer is the most common form of cancer among men, and two new companies in Medivation and Johnson & Johnson are leading the charge with their experimental new treatments. These two will highlight their findings at The American Society of Clinical Oncology (ASCO), a meeting which has quickly become one of the most important events of the year. From an investment standpoint, the momentum in cancer drug stocks has emerged well ahead of the May 18th deadline as investors pile on the bets on whom will reign supreme. This meeting will highlight some of the world’s most promising cancer drug stocks, and atop the list are two that are currently going head-to-head for the crowned king of prostate cancer treatments. These new experimental drugs are being fostered by Medivation’s (NASDAQ:MDVN) MDV-3100, and Johnson and Johnson’s (NYSE:JNJ) abiraterone, whom both are set to present critical phase III data results at any time prior or during the meeting. Of the two, the highest potential and most promising data from early to mid-stage trials belongs to Medivation, as the company is on the verge of becoming one of the most sought after oncology companies, whose product could be a medical breakthrough by all means when comparing its results to currently available options.These developments have led to many analysts upgrading the company’s short-term price target to well beyond $24 a share. The profit potential for anyone entering this target market is truly staggering. Development of new therapies and drugs for prostate cancer is likely to supplement, rather substitute the prevailing drugs or therapies, such as chemotherapy, radiation therapy, hormonal therapy and surgery, and propel sales in global prostate cancer therapeutics market to $4.8 billion by 2015. Growth in prostate cancer therapies can be attributed to the increase in number of prostate cancer incidences in men aged more than 60 years. Given the longevity of an average individual, and the rapidly aging world population, the risk of prostate cancer stands tall. Statistics reveal that an estimated 1.4 million new invasive cancer cases diagnosed in the US alone in the year 2008.
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| | |  | | | Latest Updates
| | - MDVN's has world's most promising prostate cancer drug
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