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Bristol-Myers, Pfizer Announce Positive Results; An FDA Approval for Pfizer

By Market News Video Staff, Monday, August 29, 8:47 AM ET
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Bristol-Myers Squibb (NYSE:BMY) and Pfizer (NYSE:PFE) announced over the weekend positive results in a Phase 3 trial that compared Elquis to warfarin for the prevention of stroke or systemic embolism in patients with atrial fibrillation and at least one risk factor for stroke.

The companies said the drug showed Elquis significantly reduced the risk of stroke or systemic embolism by 21%, major bleeding by 31%, and mortality by 11%. Separately, Pfizer said that the Food and Drug Administration has approved Xalkori capsules, which the company calls the first-ever drug targeting anaplastic lymphoma kinase, or ALK, for the treatment of locally advanced or metastatic non-small cell lung cancer that is ALK-positive.

Pfizer noted that lung cancer is responsible for more deaths each years worldwide than any other type of cancer, and the drug offers a new treatment option for a subset of patients with the disease.

The FDA gave the drug accelerated approval, and Pfizer is conducting post-marketing clinical trials to further evaluate its clinical benefit. Pfizer partnered with Abbott Laboratories’ (NYSE:ABT) Molecular business on a diagnostic test for ALK, which was approved simultaneously with the drug. Xalkori is available immediately through some pharmacies.

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