Biotech Values

[DewDiligence]

BMY’s New-Drug Scorecard (updated)

Two years ago (#msg-47502391), BMY gave EPS guidance for 2013 and listed its five most consequential new drugs. Here’s an update on each of them:

• Yervoy: approved in US and EU; commercial success in multiple lines of melanoma; trials ongoing in other indications.

• Eliquis: approved in EU (but not US) for VTE prevention; FDA issued CRL in AF/stroke prevention that seems fixable (#msg-76926354); all told, will likely be a very big-selling drug in due course.

• Dapagliflozin: approved by CHMP in Apr 2012; FDA CRL issued in Jan 2012; probably won’t be a large-selling drug due to strong competition and lingering safety issues.

• Nujolix (belatacept): approved by FDA in June 2012; too soon to say whether it will be a major contributor, but my guess is it won’t be.

• Brivanib: failed phase-3 trials in first- and second-line liver cancer; probably won’t make it to market.

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