Bristol-Myers Squibb's "string of pearls" is starting to look a little dull to investors.
A little more than a year after Vertex licensed in a pair of "nucs" from Alios BioPharma in a high-stakes bid to develop an oral, interferon-free approach to hepatitis C, Vertex is jettisoning one as a dud while racing ahead with the second into a mid-stage study slated to begin in a matter of weeks.
Venture deals may be well off the pace set in 2011, but even a casual observer of the biotech industry could tell you that M&A is way up. Now Credit Suisse has stepped up with a new set of figures to back up the trend, noting that we haven't seen these kinds of numbers since Roche bought out Genentech for $46.7 billion in 2008.
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 $2.5 billion buyout.
At the BIO CEO & Investor Conference in New York yesterday, Achillion CEO Michael Kishbauch wrapped up his remarks on the biotech's hepatitis C programs by making it clear that he was angling for
Gilead Sciences ($GILD) received its first bonus from the monster $10.8 billion deal to acquire Pharmasset ($VRUS) after CSO Norbert Bischofberger told analysts yesterday evening that PSI-7977
At the beginning of 2011, Vertex ($VRTX) was basking in the limelight of blockbuster success. Its hepatitis C drug was headed for approval, offering a game-changing approach to the disease, and was
While Bristol-Myers Squibb ($BMY) was dealt a setback today on the diabetes front, investigators were reporting progress with a new combination approach to hepatitis C that's raising hopes for an
Bristol-Myers Squibb ($BMY) mounted an enviable makeover from a diversified company to a biopharma force over the past several years, with the famed "String of Pearls" strategy advanced to buy
The news of the Bristol-Myers/Inhibitex deal couldn't have been better timed. With the biotech world converging on San Francisco today for the annual JP Morgan confab, there's nothing like a