Dendreon’s cancer vaccine sales drop as competition heats up

By Esha Dey (Reuters) – Sales of Dendreon Corp’s prostate cancer vaccine Provenge declined in the first quarter despite efforts by the biotechnology drugs maker to shore up flagging volumes. The company’s shares fell 14 percent to $4.06 in morning trade on the Nasdaq. They touched a low of $3.95. Dendreon is watched closely due to the immense potential of cancer vaccines, but Provenge sales have never really taken off due to physician uncertainty about reimbursement and limited manufacturing capacity. The emergence of newer prostate cancer drugs have also squeezed the vaccine’s potential. …