BMY/ABT Present Oncology Data - Analyst Blog

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Bristol-Myers Squibb Company ( BMY ) and partner Abbott Laboratories ( ABT ) recently presented data on their oncology candidate elotuzumab from a phase II study. The randomized study evaluated the drug, combined with a low-dose dexamethasone and Celgene Corporation 's ( CELG ) Revlimid, in treatment-experienced multiple myeloma patients at two doses- 10 mg/kg and 20 mg/kg. Bristol-Myers/Abbott Laboratories presented the data on elotuzumab at the 54th annual conference of the American Society of Hematology (ASH).

Data from the study revealed that the median progression-free survival (PFS: the time without disease worsening or death) was not reached after 20.8 months of follow up in the 10 mg/kg arm. Moreover, the objective response rate (ORR) was observed to be 92% in the 10 mg/kg arm. The median PFS and ORR were found to be 18.6 months and 76%, respectively, for patients treated with the 20 mg/kg dosage of elotuzumab. The safety profile of the candidate was found to be consistent with those revealed by the earlier studies.

Apart from the above phase II study, Bristol-Myers/Abbott Laboratories are also evaluating elotuzumab in other studies. The combination of elotuzumab (10 mg/kg), Revlimid and low-dose dexamethasone is being evaluated in two phase III studies. Moreover, a combination of Takeda's Velcade and dexamethasone with or without elotuzumab is also being evaluated in a phase II study in patients suffering from relapsed/refractory multiple myeloma.

Our Recommendation

We currently have a Neutral recommendation on Bristol-Myers which carries a Zacks #3 Rank (Hold). Our stance is similar on Abbott Laboratories.

Large-cap pharma stocks currently holding a Zacks #2 Rank (Buy) include companies like Sanofi ( SNY ), Novo-Nordisk ( NVO ), Johnson & Johnson ( JNJ ) and Roche ( RHHBY ).



ABBOTT LABS (ABT): Free Stock Analysis Report

BRISTOL-MYERS (BMY): Free Stock Analysis Report

CELGENE CORP (CELG): Free Stock Analysis Report

NOVO-NORDISK AS (NVO): Free Stock Analysis Report

(RHHBY): ETF Research Reports

SANOFI-AVENTIS (SNY): Free Stock Analysis Report

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This article appears in: Investing , Business , Stocks

Referenced Stocks: ABT , ASH , BMY , CELG , NVO

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