Bristol-Myers has one of the best drug development track records in the industry, and the big biotech is devoting major resources to its immuno-oncology lead. Bristol-Myers issued 5 new releases on nivolumab last night, and they all followed an early-morning statement on a new nivo combo study being mounted with Celldex.
Wednesday night's big round of ASCO news highlighted a few key memes with major implications for cancer drug development and everyone who works in the field. Overall, there were no big surprises in the news. And that's news in itself.
Given the eyebrow-raising cash component in Celgene's new deal with Nogra, we thought it would be fun to list the top 10 upfronts paid for experimental drugs, ranked simply according to the cash included in the upfront--no surer sign of what a company really thinks about the potential of an experimental therapy or portfolio.
Payers worried about hepatitis C drug prices have been counting on impending price competition to save them money. The idea is that, once Merck, AbbVie and Bristol-Myers Squibb have treatments on the market, Gilead Sciences will have to back off its $84,000-per-treatment-course sticker price. The reality could be a little better--and a little worse--than that.
After earning more than $200 million in nondilutive funding for its work on armed antibodies, La Jolla, CA-based Ambrx thinks this is the right time to catch the biotech IPO wave as it looks to raise another $86 million from investors.
While many drugmakers were marveling over Pfizer's big bid for AstraZeneca or speculating about which megadeal might come next, a few big pharma companies rolled out their first-quarter earnings reports. Let's give them their due. Besides, we can't be all deals, all the time. Here are the highlights--or, given the almost-uniform slide in sales, the lowlights.
Bristol-Myers isn't wasting any time in pushing its closely watched immuno-oncology drug nivolumab to the FDA.
About 7 months after splitting her company into two biotechs, CEO Nancy Stagliano has sold iPierian and its preclinical foray against neurodegenerative diseases--including Alzheimer's--to Bristol-Myers Squibb for $175 million down and up to $550 million in milestones.
Piggybacking off an earlier deal, Bristol-Myers Squibb has signed another manufacturing agreement with South Korean giant Samsung.
With a host of biologic products in its pipeline, Bristol-Myers Squibb sees the need for more capacity for making large-molecule drugs and has decided to build on a relationship it already has with South Korea's Samsung BioLogics.