Bristol-Myers Squibb has won a court verdict to uphold its patent on Sprycel (dasatinib), fending off a challenge, for now, from India's BDR Pharmaceuticals, which sought a compulsory license to make the drug and sell it at a lower cost domestically. But other challenges abound, including one by little-known Lee Pharma for AstraZeneca's Onglyza.
Prime Minister Narendra Modi got an ear full from both constituents and the U.S. drug industry about India's approach to drug patents during his first visit to the U.S. last month. Three weeks later, there is evidence the government will take a considered approach to the contested issue.
Bristol-Myers Squibb's got some pumped-up sales to go along with its slimmed-down focus. In the fourth quarter, revenue increases and decreased costs helped the company beat Wall Street's earnings estimates on the way to zeroing in on its new-look pharma model.
For a long time, pharma companies have looked to large disease populations as the biggest potential revenue streams. But those days are long gone. That perception has shifted, especially with the prescription drug market stagnating in the U.S. and Europe. Orphan drugs--pharmaceutical treatments for rare diseases or disorders--have proven themselves as viable moneymakers, and the industry has taken note. Read the report >>
A labeling addition approved by the FDA Thursday for Bristol-Myers Squibb's leukemia drug Sprycel can only help to make up for the $4.5 billion in lost revenues since the blood thinner Plavix went off patent last year.
India is taking another swipe at Big Pharma. Three swipes, in fact: The government has started the process of granting three more compulsory licenses, this time on cancer treatments from Roche and Bristol-Myers Squibb. That means cheap copies of the on-patent drugs could soon hit the Indian market.
The FDA gave its blessing to Bosulif, a treatment for chronic myelogenous leukemia (CML) patients with Philadelphia chromosome-positive disease. It's a second-line approval, for patients who've failed on--or can't tolerate--another drug. Analysts figure the approval is worth $341 million in annual sales by 2016, Reuters reports.
Ariad Pharmaceuticals' key cancer drug ponatinib didn't disappoint at the ASCO meeting, with new data from the company's pivotal "PACE" trial trumping those revealed late last year.
All eyes are on new and forthcoming drugs as Bristol-Myers Squibb reports a 12% increase in first-quarter profits.
Bristol-Myers Squibb's ($BMY) earnings didn't reach the Wall Street goalposts, partly because of higher costs, some of them attributed to U.S. healthcare reforms. Sales of its flagship drug,...