The joint venture between Bristol-Myers Squibb and Allied Minds has picked up the rights to an immuno-oncology platform and associated lead molecules from Yale University. Having struck the deal, Allied-Bristol Life Sciences is to work on turning Yale's research into antibody recruiting molecules into drug development programs that are ready for the clinic.
Bristol-Myers Squibb and Sanofi scored a victory in a False Claims Act marketing case over its blood-thinner, Plavix, as a federal judge in New Jersey tossed out some allegations from a former Sanofi sales rep that the company made misleading statements about the med to gain more Medicare and Medicare coverage.
The first half of the year has provided a good ride for Big Pharma and its investors with indices up in the U.S. and Europe. Even Japanese drugmakers avoided the side effects of China's stock market meltdown and saw values rise 23%. But, of course, averages come from the highs and the lows and some players have actually seen share price declines during this bull market.
Merck & Co.'s Keytruda has jumped on the FDA's priority review track for a new first-line use in melanoma. The PD-1 immunotherapy, already approved to treat relapsed melanoma and under FDA review in lung cancer, needs the broader melanoma approval to keep abreast of Bristol-Myers Squibb's rival drug Opdivo.
An old drug with a new trick? We'll see. After a long DTC hiatus, Bristol-Myers Squibb is taking a new tack with advertising its rheumatoid arthritis drug Orencia. The campaign for the decade-old drug emphasizes long-term relief and uses the new tagline, "See your RA in a different way."
Kerrisdale Capital is maintaining the pressure on Bavarian Nordic. Having precipitated a 13% drop in the stock of Bavarian Nordic in the 10 days since it unveiled its short thesis, the hedge fund is now holding a follow-up call to expand on its theory that the Danish drugmaker is a busted flush.
UniQure has netted another $53 million (€48 million) from Bristol-Myers Squibb. The deal sees BMS add three targets to its cardiovascular gene therapy collaboration and snaffle 1.3 million more of uniQure's shares, taking its stake in the Dutch drugmaker up toward 10%.
Bristol-Myers Squibb has signed on Northwestern University to partner on some early-stage immunotherapy trials.
Bristol-Myers Squibb, playing catch-up in hepatitis C, picked up FDA approval for a virus-blocking agent to be used in tandem with Sovaldi, Gilead Sciences' blockbuster success.
Here's an earnings trend-buster: Bristol-Myers Squibb trounced expectations for the second quarter and hiked its full-year sales forecast by more than $1 billion.