For the past few weeks Idenix has been methodically moving away from its once-promising hepatitis C drugs, put on clinical hold by a jittery FDA in the wake of a catastrophic trial of a somewhat similar drug at Bristol-Myers Squibb.
Bristol-Myers Squibb has reached an agreement to pay $80 million to 15 patients who were harmed or died during its failed trial for its experimental hepatitis C drug 094.
Bristol-Myers Squibb has already taken a $1.8 billion charge for the 094 hep C mess it created. Now comes the expensive post-mortem cleanup.
The evolution of hepatitis C treatment threatens to leave today's dominant companies with fossilized offerings. Vertex and Merck have the state-of-the-art approved drugs against the virus, but both companies are chasing after Gilead Sciences, Abbott Laboratories and others with programs that could be the first to win market approval with pill-only options. Read the full report >>
Brian Starkey didn't have insurance coverage when he was diagnosed with hepatitis C. So when a doctor pointed him to a study of Bristol-Myers Squibb's experimental BMS-094, he leaped at a chance to get free care. And as The Kansas City Star reports in an in-depth profile, that decision may have cost him his life.
Idenix already faces a partial clinical hold on its top hepatitis C program. Now the FDA has stepped in to add a clinical hold on its preclinical therapy IDX19368, another nucleotide polymerase inhibitor, or "nuc," in the pipeline.
Less than 8 months after Bristol-Myers Squibb bought out Inhibitex and its lead hepatitis C drug for $2.5 billion, the company has officially opted to write off the therapy as a complete waste of money and a threat to human safety.
Bristol-Myers Squibb is weighing whether to write down the value of its experimental hepatitis C pill BMS-986094, which has a carrying cost of $1.8 billion, according to the company's SEC filing on Friday.
A safety crisis has forced Bristol-Myers Squibb to slam the brakes on a mid-stage study of a hepatitis C drug, threatening the future of a program that was at the heart of a recent $2.5 billion buyout.