EU Panel Backs Bristol-Myers Squibb's Yervoy Cancer Drug
May 20 2011 - 10:27AM
Dow Jones News
Bristol-Myers Squibb Co.'s (BMY) cancer drug Yervoy received
backing Friday from European regulators.
The European Medicines Agency, or EMA, said its Committee for
Medicinal Products for Human Use, or CHMP, recommended approval of
the drug, also called ipilimumab and which helps patients with
advanced melanoma live longer.
Melanoma is a type of skin cancer that is hard to treat once it
has spread to other parts of the body. In Europe, about 67,500
people are diagnosed with melanoma each year.
The European Commission will decide by August whether to grant
Yervoy marketing approval. Recommendations by the panel are usually
backed by the block's executive body.
U.S. regulators approved Yervoy in March.
"Despite the rising incidence of melanoma across Europe, no new
treatment options have been approved in more than a decade.
Receiving a positive opinion for Yervoy from the CHMP represents an
important milestone for scientific advance in this disease area."
Ron Cooper, president of Bristol-Myers Squibb Europe said in a
statement.
"We believe that immune-therapy represents the next era of
cancer fighting treatments and we are dedicated to addressing the
grave and unmet medical need in melanoma," said Magnus Jaderberg,
chief medical officer of Bristol-Myers Squibb Europe.
-By Sten Stovall, Dow Jones Newswires; +44 207 842 9292;
sten.stovall@dowjones.com
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Mar 2024 to Apr 2024
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Apr 2023 to Apr 2024