Based on the results of a recent study in the United States, Avastin is equally effective against macular degeneration to Lucentis. Avastin is an anti-cancer drug while Lucentis is the leading drug for macular degeneration; Avastis, however, is 40 times cheaper than Lucentis.

The study basically compared Avastin to Lucentis. Both drugs were developed by Genentech, a US firm owned by the Swiss laboratory Roche.

While the test was still ongoing, the researchers randomly assigned a total of 1,208 people with neovascular macular degeneration to get Avastis or Lucentis injections in the eye on a regular basis. That is either done monthly or on an as needed basis, depending on the patients’ monthly evaluation.

Macular degeneration is a condition that usually affects older adults and results in a loss of vision around the center of the visual field due to damage to the retina. It is the most common cause of visual impairment among adults ages 50 and above. This condition will make it almost impossible for the patient to recognize faces, let alone read. However, they usually have enough peripheral vision to allow them to carry on regular daily activities.

After a year of trials, Avastis and Lucentis have the same effects on the respondents’ visual acuity when they are administered following the same schedule. However, the cost of treatment varies widely said Doctor Juan Grunwald, one of the study authors.

The average cost per patient of those who were administered with Lucentis is $23,400. That is a very huge amount of money compared to the $385 cost per patient treated with Avastis.

This study appears in the most recent issue of The New England Journal of Medicine.

Arab Bank ARBK.AM in Jordan dropped 19.7 percent from its nine-month profits to $402.3 million the same period last year. This report is based on its financial statement released on Sunday.

According to the given financial statement, the bank had a 3 percent growth in assets at the beginning of the year. That is, $52.12 billion against $50.6 billion.

Also, the bank’s balance sheet showed that they had set aside a total amount of $203 million to supply for non-performing loans during the first nine months of the year 2010, which increased from $111 million amount of money they had kept for the same period last year.

Today, most banks in Jordan are setting aside larger provisions to help them cover potential defaults and non-performing loads by real estate firms and businesses falling down from the effect of global downturn on the aid-dependent economy.

Arab Bank was established in Jerusalem, Palestine during the 1930s. This is a small bank that has evolved into one of the largest financial institutions found in the Middle East. Today, they have the largest worldwide Arab branch network. They have over 500 branches in around 30 countries from 5 different continents.

The bank’s nine-month net profit dropped down to $500.9 million from their $672.8 million last year.

However, bankers inform that while their credit provisions reflect on its profits, the Arab Bank has a healthy base that cushions them and about $8 billion shareholders equity.