Source - http://www.nj.com/business/index.ssf/2012/08/bristol-myers_halts_mid-stage.html
Bristol-Myers halts mid-stage study of promising hepatitis C drug
Published: Thursday, August 23, 2012, 7:25 PM Updated: Thursday, August 23, 2012, 7:36 PM
Hepatitis C Drug Proves Dangerous
Nine patients are hospitalized and one is dead after taking an experimental drug for hepatitis C developed by Bristol-Myers Squibb Company (NYSE: BMY). On Thursday the company announced it had halted development of the drug, aimed at treating lever disease.
"The decision to halt development of BMS-986094 has been guided by our overriding interest in protecting patients," said Elliott Sigal, M.D., Ph.D., Executive Vice President and Chief Scientific Officer, Bristol-Myers Squibb.
Two of the original nine patients remain hospitalized and Bristol continues to monitor the health of over 100 patients who participating in the study. The company also notified nearly 150 others who were part of earlier test.
Bristol Drops Hep C Drug After Patient Death
By Ed Silverman
You could see this coming. Last night, Bristol-Myers Squibb abandoned an experimental hepatitis C compound after one patient died of heart failure and nine others were hospitalized during a Phase II study. The move comes less than a month after the drugmaker suspended the trial due to safety issues among patients and that decision, not surprisingly, immediately raised questions about the future of the medication (back story).
The discontinuation is a huge disappointment for Bristol-Myers Squibb, which earlier this year agreed to pay $2.5 billion in cash for Inhibitex and its experimental compound, a nucelotide polymerase inhibitor that was renamed BMS-986094. The wisdom of that deal drew considerable skepticism, though, because the small drugmaker had completed only Phase I testing up to that point.
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BMS halts the development of BMS-986094 due to patient death
BMS-986094, formerly known as INX-189, is a nucleotide polymerase inhibitor that is currently being developed in the phase II clinical studies for the treatment of hepatitis C. The FDA has placed a clinical hold on the development of the compound which has also affected the development of Idenix's IDX184 and tanked Idenix shares.
The phase II trial was initially suspended on August 1, 2012 due to a heart failure case which now has resulted in death. As of now, nine patients have been hospitalized and two remained hospitalized. The company has yet to establish a definitive relation between the compound and kidney and heart toxicity. Hoever, for the interest of the patients, it has decided to halt the development of BMS-986094.