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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