European countries are known for wresting price cuts from drugmakers. Usually, it's a straightforward cost-effectiveness argument. But France has come up with a new strategy: Arm-twisting taxes.
The European Society for Medical Oncology meeting may not be as enormous as its U.S. counterpart, but plenty of news is flowing. And some of the new data presented in Madrid over the weekend is pretty dramatic.
Among the scrum of drugmakers racing forward with a new class of cancer treatments, Bristol-Myers Squibb was the first to win a global regulatory nod and is now first in line for approval in lung cancer, a particularly lucrative indication for the group of promising oncology drugs.
Over the weekend oncology investigators from all around the world gathered in Madrid at the European Society for Medical Oncology (ESMO) 2014 Congress to review the latest advances--and setbacks--in the fast-moving field of cancer drug research. As usual, the big companies dominated the discussions, as rival oncology groups touted new data as they tried to position competing therapies in the global scramble to develop new and better cancer drugs, now one of the hottest fields in R&D.
The U.S. drugmaker will build a new campus in New Jersey for about 2,500 that it promises will pump up "collaboration, creativity and innovation," much as Biogen Idec, Novartis and others have done before it.
Bristol-Myers Squibb is gearing up to build a 2,500-employee campus in New Jersey, following the biopharma trend of ditching far-flung outposts in favor of collaboration-encouraging hubs.
Bristol-Myers Squibb is doing its best to rain on Merck & Co.'s immunotherapy parade. No sooner had Merck won FDA approval for its brand-new cancer drug Keytruda (pembrolizumab) than Bristol-Myers and its partner Ono Pharmaceutical slapped it with a patent-infringement lawsuit.
In cancer drug development, immunotherapies are hot, with none more closely watched than Bristol-Myers Squibb's nivolumab. Now, we have a window into the drug's future. What that glimpse tells us is that outsize cancer drug prices are about to rise even higher.
Shares of Alder BioPharmaceuticals took a hit Tuesday morning after the biotech reported that Bristol-Myers Squibb had dumped its $1 billion-plus collaboration deal on the IL-6 drug clazakizumab, which had cleared a Phase IIb study for rheumatoid arthritis.
Want a window into the future of hepatitis C drug marketing? Keep an eye on Europe. Bristol-Myers Squibb bagged European approval for its hepatitis C fighter Daklinza (daclatasvir) Wednesday, setting the company up for head-to-head competition with Gilead Sciences' upcoming combo drug.