Celgene discontinues clinical trials for advanced prostate cancer treatment

Celgene (NASDAQ:CELG), a Summit, New Jersey-based pharmaceutical company, has stopped a phase 3 trial of its blockbuster drug Revlamid for castrate-resistant prostate cancer after data showed the drug had failed to prolong life.

The double-blind study was evaluating the efficacy and safety of the drug in combination with chemotherapy drug Docetaxel and the steroid Prednisone. A data monitoring committee reached the decision.

A statement from the company said: “We have accepted this recommendation of the DMC and following formal notification and review of the analysis, physicians and patients, internationally, will be officially advised of this action.”

Sales of Revlamid, used to treat multiple myeloma and transfusion-dependent anemia, were $3.2 billion as of the company’s third-quarter earnings announced last month. The company is in the midst of clinical trials for three other applications of the drug’s compound.

Several drug companies are in various stages of clinical trials for treatments for castrate-resistant prostate cancer. So far, treatments used in combinations with other drugs have only been able to prolong life by a few months. Norwegian drug company Algeta in partnership with Bayer completed phase 3 trials of its drug Alpharadin, which has been granted Fast Track Designation by the U.S. Food and Drug Administration. The FDA grants fast-track approval for drugs used to treat serious diseases for which there is no cure. Bayer said it would apply for approval for the drug in the middle of 2012.