Federal regulators have approved an innovative cancer drug from Seattle Genetics Inc. to treat two rare forms of cancer that attack the lymph nodes. The Food and Drug Administration on Friday approved Adcetris to treat Hodgkin’s lymphoma and systemic anaplastic large cell lymphoma. Adcetris uses a targeted antibody to deliver the drug directly to cancerous tumor cells, sparing healthy cells. The FDA approved the drug for patients who have already tried treating their disease with a bone marrow transplant or multiple rounds of chemotherapy. About 8,800 new cases of Hodgkin’s disease are expected to be diagnosed this year, according to the National Cancer Institute. Adcetris is the first drug approved for the disease since 1977. The FDA approved the drug under an accelerated, six-month process reserved for therapies that show promising early results. In a study of 102 patients with Hodgkin’s lymphoma, 73 percent of patients taking the drug saw their tumors shrink or disappear completely. On average, these patients responded to the drug for more than six months.
Burger King retires its creepy mascot
The king is dead. Burger King’s spooky “The King” mascot is retiring so the struggling burger chain can refocus its marketing to reach new customers. The mascot has been around for years, but recently has become a more prevalent and somewhat creepy presence in ads – showing up in people’s beds and peeping in their windows. The fast food chain, which has suffered declining sales, will roll out a new advertising campaign this weekend sans “The King” that will focus on its burgers. The campaign is the first since Burger King switched advertising agencies in July.
Gold prices hit another record
Investors flocked to gold Friday, sending it to the latest of a series of records, as fears about recession in the world’s major economies infected financial markets. The metal soared as high as $1,881.40 an ounce. It’s been on a tear, rising more than 15 percent in August alone.
Embezzling executive files for bankruptcy
A former Fry’s Electronics executive accused of embezzling millions of dollars to cover gambling losses has filed for bankruptcy, listing nearly $137 million in debt. Ausaf Umar Siddiqui owes about $20 million to Las Vegas casinos, according to his July 13 bankruptcy filing in San Jose. He also has outstanding gambling debts in Connecticut and Britain, however the amounts are listed as unknown.Siddiqui, formerly a top executive at the electronics retailer, was once considered a Vegas high roller who reportedly demanded casino employees leave golden raisins and bottles of Dom Perignon in his room. The Internal Revenue Service charged him in 2008 with embezzling $65 million dollars by forcing vendors to pay kickbacks to ensure that their products are placed on Fry’s shelves.
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