BMY/ABT Present Oncology Data - Analyst Blog

By Zacks | December 12, 2012 AAA

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).

You May Also Like

COMPANIES IN THIS ARTICLE
Related Analysis
  1. Stock Analysis

    Faceboook (FB) Revenue Surges on Mobile Ads - Stocks in the News

  2. Stock Analysis

    Zacks Rank Buys: Infinera (INFN) & PolyCom (PLCM) - Video Blog

  3. Stock Analysis

    Will Occidental Petroleum (OXY) Miss on Earnings in Q4? - Analyst Blog

  4. Stock Analysis

    Will Tyco (TYC) Q1 Earnings Beat with Accretive Buy? - Analyst Blog

  5. Stock Analysis

    Will Abbott Labs (ABT) Disappoint on Earnings This Quarter? - Analyst Blog

Trading Center