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May 8, 2013

Healthcare reform law provisions could affect pharmaceutical innovation, Bristol-Myers Squibb exec says

Drug maker Bristol-Myers Squibb foresees significant effects on its business from the Patient Protection and Affordable Care Act, company executives told attendees of its recent shareholder meeting.

WASHINGTON — Drug maker Bristol-Myers Squibb foresees significant effects on its business from the Patient Protection and Affordable Care Act, company executives told attendees of the its recent shareholder meeting.

September 18, 2012

Record patent expirations roil Rx market

For branded drug makers, the pharmaceutical patent cliff has never loomed higher or steeper. The exposure of so many of the world’s biggest-selling medicines to generic competition for the first time is redefining the pricing model for many of the most widely prescribed classes of pharmaceuticals — reducing costs for health plans, payers and patients; scrambling drug makers’ balance sheets; and potentially boosting both drug utilization and adherence rates as reduced out-of-pocket costs induce more patients to fill their prescriptions. 

August 9, 2012

Bristol-Myers Squibb, AstraZeneca expand diabetes deal

AstraZeneca paid $3.2 billion to Amylin Pharmaceuticals Thursday following the latter's acquisition by Bristol-Myers Squibb, AstraZeneca and Bristol said.

PRINCETON, N.J. — AstraZeneca paid $3.2 billion to Amylin Pharmaceuticals Thursday following the latter's acquisition by Bristol-Myers Squibb, AstraZeneca and Bristol said.

The payment was made as part of the expansion of a deal between the drug manufacturers made in 2007 to develop diabetes drugs. Bristol announced Wednesday that it had completed its acquisition of Amylin, making the San Diego-based drug maker a wholly owned subsidiary.

August 8, 2012

Bristol-Myers Squibb purchase of Amylin mostly complete, company says

Bristol-Myers Squibb has bought a majority stake in drug maker Amylin Pharmaceuticals, Bristol said Wednesday.

NEW YORK — Bristol-Myers Squibb has bought a majority stake in drug maker Amylin Pharmaceuticals, Bristol said Wednesday.

The New York-based drug maker said that 140.5 million shares of Amylin had been put up for sale at $31 per share, and that it now owned 85.55% of the San Diego-based company. Bristol said it planned to acquire the rest of Amylin's shares Wednesday as well.

July 9, 2012

FDA approves Lilly, BMS drug for KRAS wild-type colorectal cancer

The Food and Drug Administration has approved a drug made by Eli Lilly and Bristol-Myers Squibb for treating a form of colorectal cancer, the two companies said.

NEW YORK — The Food and Drug Administration has approved a drug made by Eli Lilly and Bristol-Myers Squibb for treating a form of colorectal cancer, the two companies said.

Lilly and Bristol announced the approval of Erbitux (cetuximab) for treating colorectal cancer that is KRAS mutation-negative, expresses the epidermal growth factor receptor and has spread to other parts of the body, also known as metastasis. The drug is approved for use alongside a chemotherapy combination containing irinotecan, 5-fluorouracil and leucovorin, also known as FOLFIRI.

July 2, 2012

Bristol-Myers Squibb buys Amylin for $5.3 billion

Bristol-Myers Squibb is acquiring Amylin Pharmaceuticals, the drug maker said Friday.

NEW YORK — Bristol-Myers Squibb is acquiring Amylin Pharmaceuticals, the drug maker said Friday.

Bristol announced that it would acquire Amylin for $5.3 billion, or $31 per share. The total value of the acquisition is about $7 billion, including $1.7 billion in Amylin's contractual payment and debt obligations.

May 2, 2012

GNC signed as presenting sponsor at ESPN's 2012 ESPNHS Games

ESPN on Wednesday announced that GNC will headline the 2012 ESPNHS Games as presenting sponsor.

BRISTOL, Conn. — ESPN on Wednesday announced that GNC will headline the 2012 ESPNHS Games as presenting sponsor.

March 15, 2012

Price Chopper takes savings to the 'xtreme'

Price Chopper is calling out products that tout value through a new display concept.

SCHENECTADY, N.Y. — Price Chopper is calling out products that tout value through a new display concept.

The company said its Xtreme Values concept will showcase deeply discounted items in specially merchandised areas of Price Chopper stores. The concept will feature Price Chopper's private-label brand, Clear Value, along with "an ever-changing assortment of opportunity buys, limited-edition products, lesser-known brands, truckload sales and closeouts, as well as not-seen-before deals on corporate and national brand products."

February 14, 2012

Bristol-Myers Squibb completes Inhibitex acquisition

Bristol-Myers Squibb has completed its acquisition of a developer of hepatitis C treatments.

NEW YORK — Bristol-Myers Squibb has completed its acquisition of a developer of hepatitis C treatments.

Bristol said it successfully completed its tender offer for all of the outstanding shares of common stock of Alpharetta, Ga.-based Inhibitex, at a purchase price of $26 per share via a “short form merger” in which all such shares were converted into the right to receive the aforementioned share price in cash and without interest, less any applicable withholding taxes.

February 3, 2012

Regulatory waiting period for Bristol's Inhibitex acquisition expires

The regulatory waiting period standing between Bristol-Myers Squibb and its acquisition of drug maker Inhibitex has expired, giving Bristol the green light to buy the company.

NEW YORK — The regulatory waiting period standing between Bristol-Myers Squibb and its acquisition of drug maker Inhibitex has expired, giving Bristol the green light to buy the company.

Bristol said Friday that the expiration of the waiting period, mandated by the Hart-Scott-Rodino Antitrust Improvement Act of 1976, would allow it to acquire Inhibitex for $26 per share.

January 20, 2012

Bristol-Myers Squibb donates $6.9 million to benefit cancer patients

Drug maker Bristol-Myers Squibb has donated $6.9 million to a nonprofit group that helps people pay for medical treatments, the company said.

PRINCETON, N.J. — Drug maker Bristol-Myers Squibb has donated $6.9 million to a nonprofit group that helps people pay for medical treatments, the company said.

Bristol made the donation to the HealthWell Foundation, which provides financial assistance to eligible people for covering co-insurance, co-payments, healthcare premiums and deductibles for certain treatments. The drug maker's donation is targeted toward underinsured cancer patients.

January 19, 2012

Bristol-Myers Squibb, AstraZeneca diabetes drug hits speed bump at FDA

The Food and Drug Administration has declined to approve a drug for Type 2 diabetes made by Bristol-Myers Squibb and AstraZeneca, saying it needs additional clinical data, the companies said Thursday.

PRINCETON, N.J. — The Food and Drug Administration has declined to approve a drug for Type 2 diabetes made by Bristol-Myers Squibb and AstraZeneca, saying it needs additional clinical data, the companies said Thursday.

January 13, 2012

Bristol-Myers Squibb commences tender offer for Inhibitex

Bristol-Myers Squibb has officially launched its tender offer for Inhibitex, the drug maker said Friday.

NEW YORK — Bristol-Myers Squibb has officially launched its tender offer for Inhibitex, the drug maker said Friday.

Bristol said it had commenced a $2.5 billion offer to buy all outstanding shares of Inhibitex, an Alpharetta, Ga.-based company developing treatments for hepatitis C. The company's leading product is INX-189, an orally administered drug currently in phase-2 clinical trials.

Bristol announced its intention to buy Inhibitex Monday. The New York-based drug maker said it would make Inhibitex a wholly owned subsidiary following the acquisition.

January 9, 2012

Bristol-Myers Squibb to acquire Inhibitex

Bristol-Myers Squibb is buying Inhibitex for $2.5 billion, the companies said.

NEW YORK — Bristol-Myers Squibb is buying Inhibitex for $2.5 billion, the companies said.

In a $26-per-share tender offer, Bristol will acquire the Alpharetta, Ga.-based developer of treatments for hepatitis C. Inhibitex's lead product is INX-189, an orally administered drug currently in phase-2 clinical trials.

January 3, 2012

Teva leader to exit company in May, former Bristol executive to step in

Teva Pharmaceutical Industries announced that Shlomo Yanai, president and CEO, will retire from his post in May.

JERUSALEM — Teva Pharmaceutical Industries announced that Shlomo Yanai, president and CEO, will retire from his post in May.

Yanai, who has served in this capacity for five years, has helped Teva expand from a mainly generics business to a more diversified pharmaceutical company, with expected 2012 revenue of approximately $22 billion, and an expanded footprint in the European, Asian and Latin America markets.

December 23, 2011

Bristol-Myers Squibb, Gladstone Institutes to collaborate on Alzheimer's drug discovery

Drug maker Bristol-Myers Squibb and the Gladstone Institutes will collaborate to find new ways to treat Alzheimer's disease, the two said Thursday.

SAN FRANCISCO — Drug maker Bristol-Myers Squibb and the Gladstone Institutes will collaborate to find new ways to treat Alzheimer's disease, the two said Thursday.

November 3, 2011

BMS to present abstracts from Orencia studies at American College of Rheumatology meeting

Drug maker Bristol-Myers Squibb will present 20 study abstracts at the American College of Rheumatology Annual Scientific Meeting in Chicago, the company said Thursday.

NEW YORK — Drug maker Bristol-Myers Squibb will present 20 study abstracts at the American College of Rheumatology Annual Scientific Meeting in Chicago, the company said Thursday.

Bristol said that of those, 18 contain new data from studies of Orencia (abatacept) in patients with rheumatoid arthritis or lupus nephritis.

October 27, 2011

Bristol-Myers Squibb, Gilead Sciences to develop, commercialize HIV combo treatment

Drug makers Bristol-Myers Squibb and Gilead Sciences announced an agreement to develop and commercialize a fixed-dose combination treatment for patients with HIV.

FOSTER CITY, Calif. — Drug makers Bristol-Myers Squibb and Gilead Sciences announced an agreement to develop and commercialize a fixed-dose combination treatment for patients with HIV.

The two companies said the drug will combine Bristol's Reyataz (atazanavir sulfate) and Gilead's boosting agent cobicistat, which is designed to increase blood levels of certain HIV medicines to potentially allow for one-pill, once-daily dosing. Gilead is currently studying Reyataz and cobicistat in phase-2 and phase-3 trials.

October 20, 2011

Bristol-Myers Squibb announces executive changes

Bristol-Myers Squibb announced changes to its senior management team, including the appointment of its U.S. pharmaceuticals president.

NEW YORK — Bristol-Myers Squibb announced changes to its senior management team, including the appointment of its U.S. pharmaceuticals president.

September 22, 2011

BMS, Ambrx ink deal to research, develop, commercialize diabetes, heart failure biologics

Two drug makers have entered a collaboration for novel biologics programs in diabetes and heart failure.

PRINCETON, N.J., and LA JOLLA, Calif. — Two drug makers have entered a collaboration for novel biologics programs in diabetes and heart failure.

Under the partnership, Bristol-Myers Squibb will receive exclusive worldwide rights to research, develop and commercialize biologics, based on research by Ambrx of fibroblast growth factor 21 (FGF-21) protein and relaxin hormone, which potentially can treat Type 2 diabetes and heart failure, respectively.

August 1, 2011

FDA approves subcutaneous formulation of Orencia

The Food and Drug Administration has approved a drug made by Bristol-Myers Squibb for injection under the skin to treat rheumatoid arthritis, Bristol said Friday.

PRINCETON, N.J. — The Food and Drug Administration has approved a drug made by Bristol-Myers Squibb for injection under the skin to treat rheumatoid arthritis, Bristol said Friday.

The New York-based drug maker said the approval of Orencia (abatacept) for subcutaneous injection in patients with moderate to severe RA made it the first biotech drug for RA available in self-injectable and intravenous infusion formulations.

July 22, 2011

Bristol to acquire Amira

Bristol-Myers Squibb will acquire San Diego-based Amira Pharmaceuticals for $325 million, the two companies said Friday.

NEW YORK — Bristol-Myers Squibb will acquire San Diego-based Amira Pharmaceuticals for $325 million, the two companies said Friday.

Amira develops pharmaceutical drugs for treating inflammatory and fibrotic diseases, and the deal includes milestone payments of up to $150 million on top of the upfront purchase price. Amira’s drugs include AM152, an investigational treatment for idiopathic pulmonary fibrosis, currently in early-stage clinical trials and set to enter mid-stage trials.

July 19, 2011

Graceway receives regulatory approval for Zyclara

The Food and Drug Administration has approved a drug made by Graceway Pharmaceuticals for actinic keratoses, Graceway said.

BRISTOL, Tenn. — The Food and Drug Administration has approved a drug made by Graceway Pharmaceuticals for actinic keratoses, Graceway said.

The agency approved Zyclara (imiquimod) cream in the 2.5% strength for AK, a precancerous lesion that affects about 10 million Americans and can develop into skin cancer later on.

March 30, 2011

Dr. Reddy's completes acquisition of U.S. penicillin facility, products from GSK

Dr. Reddy’s Labs will assume ownership of a penicillin manufacturing site in Bristol, Tenn., from GlaxoSmithKline.

HYDERABAD, India — Dr. Reddy’s Labs will assume ownership of a penicillin manufacturing site in Bristol, Tenn., from GlaxoSmithKline.

The generic drug maker said it completed the acquisition of the facility and related product portfolio, including Augmentin and Amoxil brands. GSK will retain the existing rights for the aforementioned brands outside the United States.

Further financial terms and conditions of the transaction are not being disclosed.

March 28, 2011

FDA approves topical treatment for genital warts

The Food and Drug Administration has approved a topical treatment for genital warts made by Graceway Pharmaceuticals, the drug maker said Monday.

BRISTOL, Tenn. — The Food and Drug Administration has approved a topical treatment for genital warts made by Graceway Pharmaceuticals, the drug maker said Monday.

The FDA approved Zyclara (imiquimod) cream in the 3.75% strength for patients ages 12 years and older. According to clinical trial data, the cream effectively cleared genital warts, and of patients who achieved complete clearance, only a small percentage had a recurrence 12 weeks after treatment.