BMY Bristol Myers Squibb Co

By Angela Chen 

Bristol-Myers Squibb Co.'s Empliciti drug, used to treat multiple myeloma, has been accepted by the U.S. Food and Drug Administration for priority review.

Empliciti, also known by the chemical name elotuzumab, is specifically used for multiple myeloma in patients who already have received one or more therapies. It previously was granted breakthrough therapy designation, which speeds up the development and review of drugs for serious illnesses.

The acceptance is supported by promising data from a late-stage, randomized style that showed the drug was more efficient in combination with lenalidomide and dexamethasone than lenalidomide and dexamethasone alone.

Bristol-Myers is co-developing elotuzumab with AbbVie Inc. but is solely responsible for commercial activities.

Bristol-Myers has gained attention as a leader in developing drugs that enlist the power of the immune system against cancer. In another recent study, a combination of the company's immunotherapy drug Opdivo and skin-cancer drug Yervoy delayed the progression of melanoma longer than either drug alone, which could support wider use of both drugs.

Shares, inactive premarket, have fallen 11% in the past three months through Monday's close.

Write to Angela Chen at angela.chen@wsj.com

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(END) Dow Jones Newswires

September 01, 2015 08:24 ET (12:24 GMT)

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