Partners Bristol-Myers Squibb and AbbVie picked up a speedy FDA approval for their cancer immunotherapy, preparing to launch a key cog in each company's oncology pipeline.
There's a reason immuno-oncology is among the hottest fields in biopharma today--and that's the $20 billion or so in 2022 sales that many analysts estimate. No wonder Bristol-Myers Squibb, Merck, AstraZeneca and Roche are speeding ahead with their research in the field, with Sanofi, Novartis and Pfizer racing to catch up.
Bristol-Myers Squibb has won yet another approval for its pioneering immuno-oncology drug Opdivo. The regulatory nod in advanced renal cell carcinoma, a form of kidney cancer, comes just one week after the FDA accepted the filing for priority review.
In another striking FDA turnaround for Bristol-Myers Squibb's Opdivo, the agency has approved it for treating advanced renal cell carcinoma just a week after granting priority review.
Bristol-Myers Squibb spent Q3 competing in a couple of hot market races--and for that, it needed more ad dollars.
For the first time since 2013, Bristol-Myers Squibb reported a year-over-year quarterly ad spending increase. Advertising and product promotion costs rose 13% to $193 million, following two quarters of double-digit decreases this year--and a 14% overall decrease for all of 2014. The last time ad spending was up year over year was 2013's fourth quarter.
Bristol-Myers Squibb is acquiring private biotech Cardioxyl Pharmaceuticals in a deal that could be worth more than $2 billion, bringing in a Phase II treatment for heart failure.
Back in September, researchers cautioned against overhyped language in FDA press releases about new meds, saying that using the terms "breakthrough" and "promising" in statements could sway individuals' expectations about a drug. Now scientists are adding more words to the wise, showing that news stories often use rosy descriptors that aren't necessarily warranted.
The increasingly competitive reimbursement market in Japan for leading-edge pharmaceuticals saw Bristol-Myers Squibb experience a sharp quarter-to-quarter drop in the hepatitis C segment in the third quarter.
Bristol-Myers Squibb expects big things from its immunotherapy powerhouse Opdivo, pushing for expanded indications for the med as it competes for a top spot in the field. Now the company is celebrating the fruits of its labor, beating third quarter estimates with strong sales of its PD-1 fighter--not to mention a standout performance from its hep C franchise.