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FYI: Business

By Staff and Wire Reports
Published: 10/6/2009 2:25 AM
Last Modified: 10/6/2009 8:48 AM

FDA panel backs company's cancer drug

Federal health advisers voted 6-4 on Monday that the potential benefits of a Schering-Plough drug outweigh its toxic risks as a treatment for late-stage skin cancer.

The Food and Drug Administration often follows the panel's advice, though it is not required to.

Schering-Plough has asked the FDA to approve its drug PegIntron for patients whose skin cancer has spread to their lymph nodes, requiring surgery. The drug is already approved as a treatment for hepatitis C.

Company studies of the drug showed it lengthened the period of time before cancer recurred by about nine months, though patients ultimately didn't live longer than those who did not receive the drug.

Court upholds sentences of cable TV figures

A federal appeals court in New York has upheld prison sentences given to a father and son who built Adelphia Communications into a cable television powerhouse in the Northeast.

The 2nd U.S. Circuit Court of Appeals in Manhattan agreed Monday that prison terms given to 84-year-old Adelphia founder John Rigas and his son Timothy were appropriate.

They are imprisoned following convictions in 2004 in New York on charges including bank fraud and securities fraud.

IBC declares dividend

International Bancshares Corp. has declared a 17 cents per share semi-annual cash dividend for shareholders of record as of Oct 19. The dividend is payable on Nov. 2.

"This cash dividend was made possible because of the continuing strong performance of IBC, even in these difficult economic times," said Dennis E. Nixon, chairman and president.

Based in Laredo, Texas, IBC is an $11.5 billion multi-bank financial holding company that serves 104 communities in Texas and Oklahoma.

By Staff and Wire Reports

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