Bristol-Myers Squibb Co is confident it will receive U.S. approvals for all thre...
NEW YORK - Bristol-Myers Squibb Co is confident it will receive U.S. approvals for all three experimental drugs tied to a potentially higher payout for Celgene shareholders under terms of its acquisition of the U.S. biotech company, Bristol’s chief medical officer said.
“We don’t see why we would not be on track for that,” Bristol-Myers CMO Samit Hirawat said in an interview when asked the prospects for achieving that goal. Bristol-Myers said in December that the lymphoma treatment liso-cel had produced positive results in a clinical trial. It recently submitted an application seeking FDA approval and is awaiting feedback from the agency.
Having such a large portfolio of established and experimental assets “opens up the door for opportunities of a proprietary combination” he said of multi-drug therapies that would be fully owned by the company. Once viewed as the company’s most important growth driver, Opdivo sales have flattened, hovering at around $1.8 billion a quarter for the past four quarters. The sales have faltered due to the dominance of Merck & Co’s rival immunotherapy Keytruda in newly-diagnosed advanced lung cancer, the most lucrative oncology market.
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