Bristol-Myers Squibb Co. and AstraZeneca Plc. said patients taking their experimental diabetes pill, shown effective in a two-year study, had more breast and bladder cancers than those on a standard drug.
Pfizer Inc., Eli Lilly & Co. and Novartis AG have dug an idea out of the pharmaceutical dustbin to create new medicines that are showing blockbuster potential against hard-to-treat forms of breast cancer.
Bristol-Myers Squibb Co. is the only U.S. drugmaker among the top 12 to decline in trading this year, and investors and analysts say they don’t expect a comeback in 2012 because of drug pipeline setbacks.
A combination of two Vertex Pharmaceuticals Inc. drugs improved lung function in patients with the most common form of cystic fibrosis, holding out the promise of a new treatment for the genetic illness. The company’s shares rose to their highest price in almost 14 years.