Bristol-Myers Squibb Company (NYSE: BMY) has been on an uptrend for the better part of H2 of 2019. The company has had a series of positive news that has propelled it upwards. The latest news about BMY is that, even after sustained opposition from shareholders, the company has now officially bought Celgene.
The company has also announced that, the FDA has given breakthrough designation for ORENCIA. This is BMY’s treatment for the prevention of varying levels of graft-v-host disease. At the moment, there are no approved treatments for acute forms of this disease. That’s in spite of the fact that, it is life-threatening especially when, it occurs in patients undergoing genetic disease and cancer treatment.
The breakthrough therapy designation is premised on a study that was supported by BMY. Phase 2 trial assessment of the trial looked at the impact of the treatment of acute versions of the disease. According to Brian Gavin, the development lead at the company for ORENCIA, BMY is excited by the improved outcomes. He further stated that the data they received will help in stem cell transplants. He added that they were working towards making this treatment the first approved therapy for acute forms of GvHD.
News on ORENCIA comes just a day after the company announced that the FDA Oncology Drugs Advisory Committee will review the use of the company’s Reblozyl in patients suffering from MDS. The company together with Acceleron Pharma want Reblozyl approved as a new therapy for adult patients with low to medium risk of MDS linked anemia.
At the time of writing, the stock was volatile and was up by 0.25% to trade at $57.87.
About Bristol-Myers Squibb Company (BMY)
Bristol-Myers Squibb Company (BMY) researches, develops, licenses, and distributes biopharmaceuticals across the world. The company has a wide product range that includes ORENCIA. It has its headquarters in New York, New York.