The patent cliff may still be taking a toll on Bristol-Myers Squibb, but the company's Q3 sales haul was enough to impress analysts thanks to star performances from a few key new products.
Bristol-Myers Squibb's melanoma drug Yervoy and clot-fighter Eliquis helped boost its earnings past analyst forecasts, with $333 million in profits on $3.9 billion in revenue.
Three months after Britain's National Institute for Health and Care Excellence said it would not recommend Bristol-Myers Squibb's Yervoy as a first-line treatment for melanoma, the much-feared cost-effectiveness agency has changed its mind. A new draft guidance from NICE now says Yervoy should be available as the first choice for treating patients with advanced melanoma.
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.
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.
Bristol-Myers Squibb hooked up with South Korea's Samsung last year when it wanted someone to handle manufacturing overseas for its hot-selling melanoma drug Yervoy. But with more promising biologics in its pipeline, the New York-based drugmaker has decided to deepen its commitment.
The cost-effectiveness agency recommended that Bristol-Myers Squibb's widely embraced Yervoy (ipilimumab) should not be used as a first-line treatment for melanoma. The agency does recommend the drug for second-line treatment, but says BMS needs to do more clinical trials to prove its "clinical effectiveness" for earlier use.
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.
Herewith we bring you our Top 15 Drug Launch Superstars. Some of them will be obvious to anyone who follows the pharma business. They certainly were obvious to us. But choosing the rest was a challenge--one we weren't exactly expecting, based on previous experience. Read the full report >>
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.