Merck & Co.’s new top scientist is planning major changes for the second-largest U.S. drugmaker, including cutting dead-end research projects and focusing its laboratories on biotechnology and cancer medicines.
Bristol-Myers Squibb Co. is making progress developing a new drug to assist the body’s immune system in its ability to find and attack cancer cells. The drug may prove especially effective fighting lung 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.
Johnson & Johnson and Bayer AG failed to gain U.S. approval to expand the use of their blood thinner Xarelto to prevent heart attacks and strokes in patients with serious chest pain or a previous heart attack.
Bristol-Myers Squibb Co., the only drugmaker among the top 12 to decline in trading this year, reported sales and earnings trailed analyst estimates after revenue from its top medicine vanished to generic competition.
Eli Lilly & Co. , under pressure to gain new products after setbacks this week with two diabetes drugs, may try to acquire its partner Amylin Pharmaceuticals Inc. or covet companies with more approved products.