Bristol-Myers Squibb has signed a deal with Five Prime Therapeutics to determine whether a combination of its star immuno-oncology contender and the biotech's antibody can make a difference in a range of cancers.
Bristol-Myers Squibb, having already expanded its U.S. production to make more biologics with its facility in Devens, MA, will now erect its twin in Ireland, a 320,000-square-foot facility adjacent to a bulk manufacturing facility in Dublin.
Bristol-Myers Squibb has pulled the covers off of impressive Phase III data on Opdivo (nivolumab), pointing to a 73% survival rate among advanced melanoma patients after one year of therapy compared to 42% for the long-used chemo drug dacarbazine.
With drugs like Yervoy and Sprycel leading its comeback and a pipeline filling up with more biologics, Bristol-Myers Squibb needs someplace to make them, and Ireland will get the prize--an investment of nearly $1 billion and the 400 jobs that will come with it.
Bristol-Myers Squibb is taking Gilead's lead when it comes to developing-world access for its hepatitis C drug, offering up a tiered pricing strategy and licensing agreements with generics makers. But according to some critics, that's not enough.
Bristol-Myers Squibb has grabbed an option on an early-stage program for idiopathic pulmonary fibrosis this morning, forging a deal to potentially buy out Denmark's Galecto Biotech for up to $444 million--if the drug pans out in the clinic.
Bristol-Myers Squibb's closely watched checkpoint inhibitor nivolumab managed to wow analysts this morning with impressive survival results in a Phase II study of patients with advanced squamous cell non-small cell lung cancer. Of all the patients in the drug arm, 41% were alive at the one-year mark, while investigators tracked an overall response rate of 15%.
Late last year F-star spun out one of its early-stage drugs into a separate "asset-centric" company dubbed F-star Alpha. A group of venture players including Atlas and SR One chipped in $12 million to fund the clinical plans for the HER2-targeting antibody fragment FS102. And now Bristol-Myers Squibb has come along and seized the prize, nabbing a buyout option on the spinout as well as worldwide rights for an upfront and near-term milestone payment of $50 million in a deal that is worth up to $475 million.
With the goal line for lung cancer in sight at the FDA as it races with an ambitious R&D team at Bristol-Myers Squibb, Merck has grabbed bragging rights to the agency's breakthrough drug designation for the checkpoint inhibitor pembrolizumab (Keytruda) for that golden market opportunity.
The patent cliff may still be taking a toll on Bristol-Myers Squibb, but the company's Q3 sales haul was enough to impress analysts thanks to star performances from a few key new products.