See post 6 for story reporting study cancelled
The drugmaker Bristol-Myers Squibb said it would suspend a midstage study of a potential hepatitis C treatment after at least one patient experienced heart failure.
The company is examining all patients in the study because it has not determined the cause of the heart failure or whether it was tied to the potential treatment.
“We are working in close collaboration with clinical trial investigators and health authorities to ensure the appropriate steps are being taken to protect patient safety,” a spokeswoman, Sonia Choi, said Thursday.
It announced the suspension on Wednesday and on Thursday, stock in Bristol-Myers, which is based in New York, fell $3.05 or 8.6 percent, to $32.55 a share.
The drug, labeled BMS-986094, is one of two main potential hepatitis C treatments from Bristol-Myers that investors are focused on, a Bernstein analyst, Dr. Tim Anderson, said in a research note.
Dr. Anderson said it seemed likely that BMS-986094 would also move to late-stage testing next year, but its prospects were now uncertain. The condition of the patient whose heart failed was not disclosed.
Bristol-Myers acquired BMS-986094 and some other potential treatments as part of a $2.5 billion acquisition of a drug developer, Inhibitex, this year.
By THE ASSOCIATED PRESS
Published: August 2, 2012
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