Bristol-Myers Squibb belatacept licence accepted

Bristol-Myers Squibb has announced that its biological licence application for belatacept has been accepted by the Food and Drug Administration (FDA).

Currently undergoing testing as part of a phase III trial, the drug is intended for use in those undergoing kidneys transplants. The FDA has now set a goal date for the Prescription Drug User Fee Act – May 1st 2010.

Elliott Sigal, executive vice-president, chief scientific officer and president of research and development at Bristol-Myers Squibb, welcomed the FDA’s decision to accept the belatacept application.

“Belatacept has the potential to address significant unmet medical needs of transplant patients,” he said.

The treatment is currently undergoing testing for the prevention of graft rejection and proper renal function following kidney transplantations.

In July, Bristol-Myers Squibb released its second quarter financial results, which showed that net sales for the period hit $5.38 billion (3.26 billion pounds) – an increase of three per cent on the corresponding time of 2008.