REVOLUTION MEDICINES' PANCREATIC CANCER DRUG RASONQUE WINS FDA APPROVAL

The FDA has approved Rasonque, a new drug from Revolution Medicines that nearly doubled survival times for pancreatic cancer patients in clinical trials. The company, which spurned takeover interest to remain independent, is now building out its own sales and distribution network. Rasonque, which targets the previously "undruggable" RAS protein, is projected to exceed $1 billion in sales next year with an annual supply cost of over $477,000.