The late-August hiccup in Bristol-Myers Squibb Co. and Pfizer Inc.’s development plan for the oral Factor Xa inhibitor apixaban may only cause a short delay to the expected blockbuster anti-clotting drug. On the other hand, it may be a harbinger of more painful clinical snafus to come. But whatever the eventual outcome for apixaban, right now Bristol looks pretty smart for partnering the drug for a handsome fee last April. [See Deal]
While Bristol has made hedging its late-stage bets a mantra—and a significant means to generate development capital, thanks to upfront payments of $250 million from Pfizer, $100 million from AstraZeneca PLC, and $100 million from Merck & Co. Inc. in the past few years—it isn’t alone among Big Pharma in the risk reduction game. Eli Lilly & Co. announced in July an agreement with TPG-Axon Capital and Quintiles Transnational Holdings Inc
Read the full article – start your free trial today!
Join thousands of industry professionals who rely on In Vivo for daily insights
- Start your 7-day free trial
- Explore trusted news, analysis, and insights
- Access comprehensive global coverage
- Enjoy instant access – no credit card required
Already a subscriber?