What does $190 million in R&D spending get you? In the case of Alder Biopharmaceuticals, it got a blockbuster $1.35 billion development deal with Bristol-Myers Squibb and an in-house migraine drug headed into a Phase IIb study. It also takes the biotech to the threshold of an IPO it detailed today, which is designed to raise $115 million to fund operations through 2015.
When Bristol-Myers Squibb and Pfizer launched their new anticoagulant, Eliquis, early last year, Wall Street analysts predicted it would be a $3-billion-a-year blockbuster. After more than a year of struggling to reach that goal, the companies got some good news late Friday, when the FDA approved the drug to reduce the risk of blood clots in the legs and lungs following hip or knee replacement surgery.
Bristol-Myers Squibb, a leader in the race to develop new immuno-oncology therapies, is pairing up with Five Prime Therapeutics to come up with a second set of cancer therapies that target two undisclosed immune checkpoint pathways in a deal worth up to $350 million.
Ireland's liberal tax code continues to attract drugmakers, but some of the long-term players are cutting back on their extensive manufacturing there. Bristol-Myers Squibb, with plans to lay off about 160 workers at two facilities, can now be added to that list.
Bristol-Myers Squibb turned in improved financial results last year, in part by cutting costs after refining its focus, like its decision to drop its diabetes drug development partnership with AstraZeneca. The drugmaker is continuing that trend by tightening its manufacturing operations in Ireland and cutting about 160 jobs.
According to new research published online Monday at the Journal of Clinical Oncology, 63% of the patients taking the immunotherapy were alive after one year and 43% were still alive after two years on the drug. And the researchers say that the durable response was also reflected in patients who had stopped taking the drug.
Is Pfizer and Bristol-Myers Squibb's Eliquis really safer than its competitors? A recent analysis of FDA adverse events reports suggested that it is.
Bristol-Myers Squibb has picked up its second "breakthrough" drug designation for a daclatasvir-based, all-oral combo for hepatitis C from the FDA, potentially shaving some regulatory time off its late-stage program as developers scramble to hijack market share from Gilead's pioneering approach.
Government officials in France have been known to scream loudly when drugmakers have planned job-costing moves like plant closures. But in a twist on that theme, Bristol-Myers Squibb has sent French government officials a warning. If they change the national health policy to buy only generic paracetamol-based painkillers, it will have to lay off 40% of the workers at two plants in Agen that make its branded versions of the drugs.
In the biotech and pharma industries, drug delivery is a crucial aspect of research and development. Finding new ways to deliver old drugs, ways to make a new drug more efficient or ways that make a...