Dendreon's Bankrupt High Price Cancer Drug Strategy | Pharmaguy's Insights Into Drug Industry News |

Follows poor sales of cancer vaccine Provenge

Cancer vaccine company Dendreon has put itself up for sale for the second time in as many years after filing for bankruptcy protection.

The company - which did not flush out any interested parties when it looked for buyers last year - has put a price tag of $275m or more for the business and says it will continue to operate in the interim "as we seek to complete the sale of our assets or a plan of reorganisation or liquidation."

The company has struggled with low sales of its Provenge (sipuleucel-T) prostate cancer vaccine since it was launched in 2010, thanks to a hefty price tag and competition from cheaper conventional drugs such as Johnson & Johnson's Zytiga (abiraterone) and Astellas/Medivation'sXtandi (enzalutamide).