CANCER DOCTOR BUSTED (Martha/Waksal aftershocks keep coming)

NY POST ^ | March 10, 2005 | CARL CAMPANILE and RICHARD WILNER

[Liz]

SAM WAKSAL Stock tipster in prison.

The ImClone insider- trading scandal that landed domestic diva Martha Stewart in prison claimed two more casualties yesterday, including a top doctor at Memorial Sloan-Kettering Cancer Center.

Martha pal Sam Waksal, the CEO of the biotech company, ratted out his two friends before a grand jury — in return for immunity from further prosecution, according to a federal complaint released yesterday. He is already serving seven years........

Zvi Fuks, head of Sloan-Kettering's radiation oncology department, and Israeli businesswoman Sabina Ben-Yehuda were busted on charges of securities fraud for allegedly dumping their ImClone stock after getting inside word from Waksal the stock was about to tank.

Fuks and Ben-Yehuda — who were "close friends" — unloaded their stock on the morning of Dec. 27, 2001, a day before the FDA announced a key decision against ImClone's proposed cancer-fighting drug Erbitux, according to charges filed by Manhattan U.S. Attorney David Kelley and the SEC. That's the same day that Stewart .......unloaded her shares.

Fuks, 68, was a member of ImClone's scientific advisory board. Ben-Yehuda, 51, an Israeli citizen and Manhattan resident who runs a medical-software company, become chummy with Waksal through Fuks.

Basked on Waksal's information, prosecutors subpoenaed records that show a series of phone calls that took place on Dec. 27, 2001. The first conversations were between Waksal and Ben-Yehuda and then more calls were made between Ben-Yehuda and Fuks.

The calls started at 6:51 a.m. and ended at 8:39 a.m.

Minutes after the last calls, both phoned their brokers to sell all their ImClone shares.

"Prior to this sale, Fuks had not sold any ImClone stock from this account since at least Dec. 1, 2000," said FBI special agent David Makol.

Lawyers for Fuks and Ben-Yehuda blasted Waksal as a liar.

[Liz]

Basked on Waksal's info.....subpoenaed records that show a series of phone calls....on Dec. 27, 2001.....between Waksal and Ben-Yehuda and then more calls were made between Ben-Yehuda and Fuks.......Minutes after the last calls, both phoned their brokers to sell all their ImClone shares.

....."flimsy evidence" nailed the two, their lawyers will charge......

[Moonman62]

What they won't tell you is that Erbitux is a successful, life saving drug. The disapproval in 2001 was mainly due to archaic FDA rules. I don't condone what Waksal did, but I think there should be perspective concerning what harms society the most.

[jazzlite]

"I don't condone what Waksal did, but I think there should be perspective concerning what harms society the most."

Yes!

[Liz]

.....a successful, life saving drug.....

Oh? You with the FDA?

[Moonman62]

I've actually researched the issue with an open mind, rather than toting around my torch and pitchfork looking for evil scapegoats.

[Liz]

More insider trading from the Martha deal.

[OldFriend]

Instead of the FDA working towards helping this drug get on the market they played gotcha and cost untold cancer patients precious time and possibly their lives.

I believe Bristol Myers is now doing trials with this drug.

Somehow I am beginning to believe there was something fishy about the rejection and subsequent acceptance once Waksal was out of the picture.

[Brian Allen]

<<..... a successful, life saving drug .....

Oh? You with the FDA? >>

Fair go, Liz.

How could you possibly suspect that?

Moonman62, after all, knows what's going on.

And the parasites at the fda will be that last to know!

[SC DOC]

Erbitux is an expensive drug with minimal effectiveness, especially if used alone without other chemotherapy drugs.

[Moonman62]

From what I understand Erbitux is intended to be used with other drugs, not alone. It makes the drugs much more effective and with less side effects.

[SC DOC]

Research has shown that it has a synergistic effect with other chemotherapy agents, and also with other modalities such as radiation, particularly in head and neck cancer. In contrast to other chemotherapy drugs such as platinums, taxanes, or 5-FU groups, it does not appear to significantly increase the toxicity of radiation. This may be one of the major future uses of Erbitux. You are correct that it increases the response rates of other chemotherapy drugs and does not add additional toxicity (aside from a skin rash sometimes seen), but does not cause less side effects when combined with another drug. Unfortunately, it has not had a major impact on survival as yet, but there are many studies underway to try to learn how to optimize the effect of the drug combinations.