Bristol Myers Squibb Company
NEWS
Biopharma has several unique challenges, but one of them is the patent cliff. In an industry where only about one in 10 compounds actually makes it to market on average, those drugs aren’t able to stay on the market very long before their patents end and generic competition begins.
Celgene, which will become part of Bristol-Myers Squibb later this year, saw positive growth in the first quarter of the year.
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One of the criticisms of the biopharma industry—at least in the context of drug pricing—is how much the industry as a whole spends on lobbyists. For example, last year, PhRMA, the industry lobbying group, spent more than $27.5 million on its lobbying activities.
Although it was probably not in serious jeopardy, Bristol-Myers Squibb’s shareholders voted today to approve the acquisition of Celgene Corporation for about $74 billion.
The combination of Opdivo and Yervoy actually fared worse than placebo, according to the data presented at the conference.
Bristol-Myers Squibb released data from pooled analyses of survival data from four clinical studies in patients with lung cancer treated with Opdivo (nivolumab).
Shares of Bristol-Myers Squibb are up slightly this morning after the proposed $74 billion acquisition of Celgene gained some significant support over the weekend. That support has caused at least one opposition group to withdraw from the fight.
Supporters and those opposed to the proposal are marshaling their forces ahead of the April 12 shareholder vote.
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