WASHINGTON, Feb. 12 (UPI) -- The Food and Drug Administration Thursday approved Erbitux to treat colorectal cancer.
Erbitux, generically known as cetuximab, was created by ImClone, and was originally rejected by the FDA in late 2001.
Martha Stewart is currently on trial for allegedly dumping about 4,000 of the pharmaceutical company's shares after her friend and ImClone's founder and former chief executive Sam Waksal tipped her off about the impending rejection.
Erbitux will be used to treat colorectal cancer that has spread to other parts of the body.
The drug works by targeting a protein called "epidermal growth factor receptor" on the surface of cancer cells, interfering with their growth.
Colorectal cancer -- cancer of the colon or rectum -- is the third most common cancer affecting men and women in the United States and, according to the Centers for Disease Control and Prevention, and is the second leading cause of cancer-related death.
Bristol-Myers Squibb will distribute and market the drug, the FDA said.
