True to analysts' predictions, the FDA's Oncologic DrugsAdvisory Committee on Monday recommended unanimouslyapproval of Bristol-Myers Squibb's taxol for metastatic ovariancancer therapy.
"Although this indication alone (for treating patients who havefailed standard therapy) is unlikely to generate domestic salesmuch greater than $20 million annually, taxol revenues couldapproach $1 billion in mid-decade if this novelchemotherapeutic realizes its promise in the treatment ofbreast and non-small-cell lung cancer," said Patricia PadgettLea, a pharmaceutical analyst with Vector SecuritiesInternational of Deerfield, Ill.
Bristol-Myers Squibb (NYSE:BMY) stock closed Monday at$68.38, down 75 cents for the day.
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