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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