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To: 5,17,37,5,101,... who wrote (245)	12/8/1997 4:00:00 AM
From: flickerful	Read Replies (1) \| Respond to of 756

in case you were worried about BM-S' future: (note that taxol assumes anchor position...) randy ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Bristol-Myers Squibb Seeks to Double New Product Launches; BMS Outlines Ambitious R&D Goals at Meeting for Wall Street Analysts PRINCETON, N.J., Dec. 5 /PRNewswire/ -- "Double" was the word of the day today at a meeting for the investment community held here at the Bristol-Myers Squibb Company (NYSE: BMY) research headquarters. According to company officials, Bristol-Myers Squibb has ambitious plans to double the size of pharmaceutical Drug Discovery; double the number of new drugs entering the development pipeline in the near-term, and then double that number again in the long-term; double the number of drugs in late development; and double the number of product launches within three years. "We have embarked on an extraordinary journey of discovery and growth in our Pharmaceutical Research Institute and throughout our medicines business," Bristol-Myers Squibb Chairman and Chief Executive Officer Charles A. Heimbold, Jr. declared to approximately 250 institutional investors and financial analysts at the all-day meeting. "Our future as one of the world's great companies depends on our ability to discover, develop, and market the best, the most innovative, the most effective and sought-after pharmaceuticals in the world." Also addressing the analysts were Kenneth E. Weg, president, Bristol-Myers Squibb Worldwide Medicines Group; Peter S. Ringrose, Ph.D., president of the company's Pharmaceutical Research Institute (PRI); and many members of the pharmaceutical company's research and marketing management team. "We have a system in place that makes sense from a research point of view, from a business point of view, and most importantly from a Bristol-Myers Squibb companywide global point of view," asserted Mr. Weg. "It views discovery research to development to marketing as one integrated, seamless process." "Bristol-Myers Squibb is committed to drive productivity aggressively to ambitious new targets," affirmed Dr. Ringrose. "We are committed to grow our core strengths in discovery, development, new technology, and external alliances. And most importantly, we are committed to fill the development pipeline with competitive 'best in class' compounds across all therapeutic areas that offer commercial and medical opportunity." Among the company's goals announced at the meeting are: -- Double the size of Drug Discovery. There are currently over 1,000 scientists dedicated to discovering new drugs at the company, out of a total R&D organization of about 4,000. The company plans to double the size of Discovery over the next five years, and increase total R&D staff by 50 percent to 6,000 people. -- Double the number of new drugs, and double again. "We need to double our Discovery output with the current resources," said Dr. Ringrose, "and double again with growth." Already this year, PRI's Discovery units have produced ten new compounds for the development pipeline. In 1998, Dr. Ringrose explained, PRI's stretch Discovery goal is to produce 15 new drugs for development. Then with the expansion of Discovery over the next several years, the number of new drugs is planned to double again to 30 per year by the year 2003. -- Double late-development drugs. The late candidate pipeline by the end of next year is likely to double that of early 1997, with late development medicines representing almost all of the company's major therapeutic areas. -- Double the number of new product launches. Dr. Ringrose stated that his goal is to launch two new products annually by the year 2000, and then to raise that number again to three product launches annually by 2003. "The Next Six" Sol I. Rajfer, M.D., senior vice president of worldwide clinical R&D, introduced "The Next Six," drugs in late-stage development that Bristol-Myers Squibb expects will be the next wave of market approvals for the company. "We believe 'The Next Six' are best-in-class compounds supported by aggressive development programs critical to achieving the company's competitive imperative," said Dr. Rajfer. "These are exciting novel therapies to address major medical needs of patients worldwide, each with outstanding near-term market potential." Bristol-Myers Squibb senior scientists introduced "The Next Six" lineup: -- Omapatrilat, an exciting and novel approach to the treatment of cardiovascular diseases such as hypertension and related disorders of target organs including the heart, kidney, and brain; -- Lanoteplase, a one-shot clot-buster for the rapid treatment of heart attacks; -- UFT, the first oral anticancer drug of its kind for the treatment of advanced colorectal cancer; -- GMK vaccine, the most advanced cancer vaccine in clinical development, for the treatment of patients with resected malignant melanoma; -- Lobucavir, a broad-spectrum oral antiviral agent, particularly effective against hepatitis B virus; and -- Gatifloxacin, a broad-spectrum antibiotic, with excellent potency against respiratory pathogens. Drug Discovery Peter Ringrose described Bristol-Myers Squibb Drug Discovery as the "engine that drives the research pipeline." In addition to the company's existing therapeutic areas -- cardiovascular and metabolic disease, oncology, infectious disease, neurosciences, immunology and inflammation, pain management, and dermatological disease -- he pointed out that PRI is expanding into pulmonary disease and urology. There are currently about 110 research programs and 50 drugs in the Bristol-Myers Squibb development pipeline, representing every phase of development from discovery to market registration. Four key drug discovery franchises were illustrated in detail: -- Cardiovascular and Metabolic Diseases. Current therapies in the Bristol-Myers Squibb armamentarium are aimed at breaking or slowing the progressive cycle of cardiovascular disease at every point. About 30 advanced and early cardiovascular and metabolic disease drug discovery programs are now under way to extend and enhance the already formidable franchise. Among them are programs in arrhythmia, hypertension, ischemia, heart and renal failure, diabetes, and obesity. Illustrating the company's aggressive efforts to enhance its position in lipid metabolism are the MTP inhibitors now in early development. These compounds block the formation of all atherogenic lipid particles. -- Infectious Diseases. Bristol-Myers Squibb has about three dozen discovery programs in such areas as antibacterials, antifungals, and antivirals. A Phase I compound, BMS-200475, which was brought from program inception to first-in-man studies in less than three years, highlighted the company's commitment to this area. In preclinical models, BMS-200475 rapidly reduced hepatitis B virus levels 10 million-fold. This compound, following lobucavir, gives Bristol-Myers Squibb the opportunity to lead the hepatitis B marketplace. -- Oncology. Bristol-Myers Squibb is the recognized world leader in oncology drug development and marketing. Building upon that success, Oncology Drug Discovery is working to provide a continuous flow of high-impact clinical candidates well into the next century. Two initiatives illustrated the company's programs: "Building a Better TAXOL(R)" and Ras inhibition. PRI scientists have already identified potential new taxane candidates that are active against resistant tumors in preclinical models and combine other favorable qualities. Another preclinical program has identified highly effective oral and I.V. inhibitors of oncogenic Ras proteins, which are linked to cell proliferation and the formation of many tumor types. -- Neurosciences. Bristol-Myers Squibb neuroscience programs include such areas as Alzheimer's disease, stroke, epilepsy, Parkinson's disease, depression, anxiety, migraine, sleep disorders, and obesity. Two near-term programs are advancing rapidly. One, a potassium channel opener now in Phase I clinical trials, demonstrated in preclinical study significant neuroprotection against stroke. The other, a melatonin agonist, allowed animal models to rapidly adjust to changes in day and night cycles, and appears promising for the treatment of sleep disorders. Product Enhancement Recently approved and developing products were also highlighted at the Bristol-Myers Squibb meeting for investors. Senior management stressed the company's aggressive life-cycle management programs: -- AVAPRO(R) and PLAVIX(R). Company managers believe that AVAPRO and PLAVIX, the two newest additions to the Bristol-Myers Squibb product lineup, could set the standards of treatment for their respective therapeutic areas. AVAPRO, a new angiotensin II receptor antagonist recently approved for the treatment of hypertension, offers outstanding efficacy, placebo-like tolerability, and a clear dose response. PLAVIX, approved in November, is indicated for the prevention of heart attack, stroke, and vascular death in patients with atherosclerosis. The benefits of PLAVIX are comparable to other accepted interventions such as antihypertensive therapy and cholesterol reduction. Upcoming clinical trials will evaluate additional benefits. -- Pravachol(R). Among all of the HMG-CoA reductase inhibitors, or statin drugs to lower cholesterol, Dr. Sol Rajfer stated that Pravachol has been shown to provide the most extensive therapeutic benefit. "It is the only statin indicated for the prevention of first heart attack in patients with high cholesterol. The repeated demonstration of Pravachol's unsurpassed true clinical efficacy, safety, and tolerability is unprecedented." Pravachol is the only agent that has demonstrated benefit against stroke in clinical trials in which stroke has been prespecified as an endpoint. Bristol-Myers Squibb is seeking to expand Pravachol's approved indications to include stroke. -- Glucophage(R). This oral antihyperglycemic agent is indicated to lower blood glucose in patients with type 2 diabetes. About 16 million Americans have diabetes, but only about 20 percent have been diagnosed and have their diabetes under control. According to Bristol-Myers Squibb, there are significant opportunities for enhancing Glucophage's robust growth, and there is exciting clinical trial data to support this important product, which has more than 30 million patient years of proven safety data. -- ZERIT(R). A thymidine-based reverse transcriptase inhibitor for the treatment of patients with HIV/AIDS, ZERIT is Bristol-Myers Squibb's fastest growing product, achieving growth of 240 percent over this time last year. If ZERIT continues to grow at the current rate, it is expected that it will soon replace AZT as the market leader in reverse transcriptase inhibition. -- TAXOL(R) (paclitaxel). TAXOL has been hailed as the most exciting anticancer agent of the decade. Yet scientists are still discovering additional benefits for patients with cancer. Despite the largest clinical research program for any cancer therapy, with indications for ovarian and breast cancer and Kaposi's sarcoma, continuing research is uncovering additional therapeutic benefits, new regimens, and new combinations of therapy for this breakthrough medicine. "We are committed to win," asserted Dr. Ringrose in his concluding remarks. "And we are committed to driving Bristol-Myers Squibb to the global number one position in pharmaceuticals through a commitment to R&D as the source of our future product flow and innovation." Bristol-Myers Squibb is a diversified worldwide health and personal care company whose principal businesses are pharmaceuticals, consumer medicines, beauty care, nutritionals, and medical devices. It is a leading maker of innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatological disorders, and cancer. The company is a leader in consumer medicines, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products. For full prescribing information, please contact Peggy Ballman at 609-252-5323. Visit Bristol-Myers Squibb on the World Wide Web at: bms.com SOURCE Bristol-Myers Squibb Company CONTACT: Peggy Ballman, Public Affairs, 609-252-5323, or e-mail, pballman@usccmail.bms.com, or Anthony Carter, Public Affairs, 212-546-4339, or e-mail, acarter@usccmail.bms.com, or Timothy Cost, Investor Relations, 212-546-4103, or e-mail, tcost@usccmail.bms.com, all of Bristol-Myers Squibb ------------------------------------------------------------------------ <Picture: PR Newswire Logo> (Today's News) (Company News On-Call) (Feature News) (Automotive) (Entertainment) (Health/Biotech)(Technology) (Financial) (Energy) (Washington and the World) (Money Talks) (About PRN)(Ask PRN) (Links) (PRN Events) ------------------------------------------------------------------------ c1997 PR Newswire. All rights reserved. Redistribution, retransmission, republication or commercial exploitation of the contents of this site are expressly prohibited without the written consent of PR Newswire. 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