Genentech’s Avastin Fails in Pancreatic Test

Researchers stopped a test of Genentech Inc.’s Avastin cancer drug after the medicine failed to prolong the lives of patients with pancreatic cancer.

An independent safety panel told the National Cancer Institute that patients were unlikely to benefit from the treatment, the South San Francisco-based company said.

Genentech and partner Roche Holding are proceeding with other studies of Avastin in pancreatic cancer, a Genentech spokeswoman said.

Shares of Genentech, majority owned by Basel, Switzerland-based Roche, declined $1.22, or 1.5%, to $77.89.