Here’s Why Bristol-Myers Squibb (BMY) Will Rise Today

Bristol-Myers is gearing to establish itself as a leading player in the hepatitis C market and, as of now, has substantial data to convince the market likewise; the company, however, faces stiff competition from Gilead Sciences, which dominates the market with its blockbuster drugs Sovaldi and Harvoni 

Bristol-Myers Squibb Co (BMY) said Saturday that its experimental all-oral hepatitis C drug daclatasvir, when used in conjunction with asunaprevir (ASV) and beclabuvir (BCV), proved to achieve a 98% cure rate in treatment-naive and 93% cure rate in treatment-experienced genotype 1 patients of hepatitis C virus, when administered along with ribavirin, in the company’s Phase 3 UNITY trials.

Results from the UNITY trials came after the company announced in October that it is scrapping plans to secure approval for the use of ASV in conjunction with daclatasvir in treating hepatitis C patients. This announcement was made despite the fact that the combination had won approval in Japan earlier during the year. Bristol-Myers said that the dual treatment regimen was developed solely to meet the distinct needs of the Japanese patient population.

Bristol-Myers indicated last month that the company will continue to work toward obtaining the US Food and Drug Administration’s (FDA) approval for the use of daclatasvir in treating hepatitis C, when administered in conjunction with other agents being developed by the company. Now, the data from the company’s UNITY trials, which are part of an investigational study being conducted by the company, indicate that Bristol-Myers’ experimental drug, when used in combination with ASV and BCV, yield statistically viable results for treating hepatitis C.


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