Bristol-Myers Squibb's third-quarter results amount to a good-news, bad-news report. On the positive side, international sales were up 18%, driving an overall increase of 9%. Its diabetes portfolio took a big step forward, with sales of $411 million, a year-over-year increase from $253 million. Plus, cancer drugs shone, as the melanoma drug Yervoy delivered an impressive 33% increase, continuing its quick vault toward blockbuster territory. Overall, Q3 results topped analyst estimates.
According to an EP Vantage report, analysts' predictions for 2014 sales of the anticoagulant have fallen 60% in the last 12 months. They now stand at $491 million. That is as projections for 2014 sales of Xarelto have surged by 81% and 60% in the respective territories for J&J and Bayer, to $1 billion and $1.4 billion.
In drug development, everything's a gamble, if you're doing something new and shooting at a big target. But there has to be a reasonable assumption that if safety issues aren't being glossed over and the efficacy data hold up, these top drugs can change standards of care and grab market share. So here's my pick of the likely big winners >>
When it launched in March 2011, Yervoy became the only drug ever to extend survival in patients with advanced forms of melanoma. Now, new data show just how long the breakthrough drug can extend that survival: A few patients using Yervoy could tack on as much as a decade to their lives, according to a long-term study. And more than a few could see a few extra years.
Two years after AstraZeneca and Bristol-Myers Squibb ran into a buzzsaw of regulatory criticism at the FDA for their SGLT2 diabetes drug dapagliflozin, the partners are back with a fresh set of promising Phase III data they hope can help provide the key needed to unlock the U.S. market.
The vials are being retrieved from the U.K., Germany, Romania, the Netherlands, Ireland, Sweden, Finland and Spain, according to BMS spokesman Ken Dominski. The recall was issued because of concerns the vials in the affected batches had not been fully filled.
Bristol-Myers Squibb has hit a speed bump in the road to new uses for its melanoma treatment Yervoy. The drug fell short in a prostate cancer trial, by failing to significantly extend patients' lives. But some of the study data could signal good news from another ongoing test of Yervoy in prostate cancer, Reuters reports.
Bristol-Myers Squibb said last month it planned to consolidate some operations in the Hillsborough, FL, area. This week it announced it has leased a 70,000-square-foot building in Tampa where it will do just that.
Australia is paying for Bristol-Myers Squibb's melanoma drug Yervoy. And Yervoy is expensive. So, Australian officials plan to monitor patients treated with it to see whether the drug lives up to its promise. It's an unusual move--and unprecedented in Australia.
Bristol-Myers Squibb is calling it quits on a depression drug it was working on with Albany Molecular Research, and investors sent the contractor's shares into a plunge as its CEO preached patience.