Agios just sold off the roy­al­ty rights for $255M, but Bris­tol My­ers says Id­hi­fa was a bust in PhI­II. Now what?

Two months af­ter Agios sold its roy­al­ty stream on its AML drug Id­hi­fa to Roy­al­ty Phar­ma for $255 mil­lion, the new own­ers at Bris­tol My­ers Squibb not­ed a slight prob­lem Tues­day morn­ing.

The Phase III study for re­lapsed AML was in­tend­ed to demon­strate the ef­fi­ca­cy promised from a Phase I/II tri­al used for an ac­cel­er­at­ed ap­proval al­most ex­act­ly 3 years ago. But there was no over­all sur­vival ben­e­fit, says Bris­tol My­ers, though ex­ecs add that they re­main “con­fi­dent” in its po­si­tion in the mar­ket as the on­ly drug OK’d for AML with IDH2 mu­ta­tions — rough­ly up to 19% of the mar­ket.

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