Ebb & Flow

ImClone (IMCL) investors shaved $1.30 off the stock last week as they digested news that FDA approved a competing colorectal cancer antibody - Vectibix panitumumab - from Amgen (AMGN). The main question now is whether AMGN's plan to price its drug at a 20% discount to IMCL's Erbitux cetuximab will suck market share away from the more established antibody.

Sven Borho of OrbiMed doesn't think so. He owns both stocks, and doesn't think Erbitux will disappear. "Erbitux has had a long time on the market already and Amgen's discount isn't that dramatic of a difference," he told Ebb & Flow. "Is panitumumab better? No. Is it equal? Perhaps." ...