Back to top

Analyst Blog

Bristol-Myers Squibb Company (BMY - Analyst Report) and partner Abbott Laboratories (ABT - Analyst Report) recently presented data on their oncology candidate elotuzumab from a phase II study. The randomized study evaluated the drug, combined with a low-dose dexamethasone and Celgene Corporation’s (CELG - Analyst Report) Revlimid, in treatment-experienced multiple myeloma patients at two doses- 10 mg/kg and 20 mg/kg. Bristol-Myers/Abbott Laboratories presented the data on elotuzumab at the 54th annual conference of the American Society of Hematology (ASH).

Data from the study revealed that the median progression-free survival (PFS: the time without disease worsening or death) was not reached after 20.8 months of follow up in the 10 mg/kg arm. Moreover, the objective response rate (ORR) was observed to be 92% in the 10 mg/kg arm. The median PFS and ORR were found to be 18.6 months and 76%, respectively, for patients treated with the 20 mg/kg dosage of elotuzumab. The safety profile of the candidate was found to be consistent with those revealed by the earlier studies.

Apart from the above phase II study, Bristol-Myers/Abbott Laboratories are also evaluating elotuzumab in other studies. The combination of elotuzumab (10 mg/kg), Revlimid and low-dose dexamethasone is being evaluated in two phase III studies. Moreover, a combination of Takeda’s Velcade and dexamethasone with or without elotuzumab is also being evaluated in a phase II study in patients suffering from relapsed/refractory multiple myeloma.

Our Recommendation

We currently have a Neutral recommendation on Bristol-Myers which carries a Zacks #3 Rank (Hold). Our stance is similar on Abbott Laboratories.

Large-cap pharma stocks currently holding a Zacks #2 Rank (Buy) include companies like Sanofi (SNY - Analyst Report), Novo-Nordisk (NVO - Analyst Report), Johnson & Johnson (JNJ) and Roche (RHHBY - Analyst Report).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
FELCOR LODG… FCH 10.47 +3.46%
OLD DOMINIO… ODFL 63.48 +1.18%
VASCO DATA… VDSI 13.57 +0.67%
AMEDISYS IN… AMED 20.18 +0.10%
LENOVO GROU… LNVGY 27.07 +0.04%