Bristol Myers wins a megablockbuster bet with TYK2 FDA approval — and there's a big bonus for the label
Bristol Myers Squibb made a megablockbuster bet on deucravacitinib, an in-house experimental TYK2 drug, in the leadup to the big Celgene buyout, keeping it while auctioning off Celgene’s top-selling Otezla to Amgen for $13.4 billion.
Friday evening, that bet paid off in a landmark win, with Bristol Myers getting a green light to sell the first-in-class oral psoriasis drug — as Sotyktu (get it?) — for $75,000 a year as analysts project peak sales in the $3 billion-plus range. And there’s a big bonus: The cheering section of the analysts on duty here breathed a sigh of relief that the FDA didn’t slap it with a black box warning for its relation to the JAK family — where strict safety warnings are prominent.
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