Another Giant Pharma Co.makes it"s move in the HCV Game

[willbb]

http://www.businesswire.com/news/home/20120107005030/en/Bristol-Myers-Squibb-Acquire-Inhibitex

Inhibitex is a clinical-stage biopharmaceutical company dedicated to the development of innovative products that can treat or prevent serious infections, whose primary focus is on the development of nucleotide/nucleoside analogs for the treatment of hepatitis C virus (HCV). Its lead HCV asset is INX-189, an oral nucleotide polymerase (NS5B) inhibitor in Phase II development that has exhibited potent antiviral activity, a high barrier to resistance and pan-genotypic coverage. Nucleotides/nucleosides are emerging as an important class of antivirals that may play a critical role as the backbone of future direct-acting antiviral-only combination approaches to HCV treatment.

“The acquisition of Inhibitex builds on Bristol-Myers Squibb’s long history of discovering, developing and delivering innovative new medicines in virology and enriches our portfolio of investigational medicines for hepatitis C,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “There is significant unmet medical need in hepatitis C. This acquisition represents an important investment in the long-term growth of the company.”

[jules2551]

The SEC would not allow one pharma company to rule the world.  That is why there are a handful who compete with each other.  The problem is...those handful are the ones who designate the prices.  So basically they all have a monopoly when it comes to fees and pricing.  And those "already astronomical prices" will not come down unless they lose their patents and go generic.  Medication and treatment is such a racket!  I am in the wrong business...laughing

Jules

[katla]

Although I'm encouraged by all the new developments, the consolidation of the pharma co's makes me nervous. If it continues I fear there will be very few and they'll have tremendous power. And without competition, consumers will have fewer options, not to mention what it can do to already astronomical prices.

[jules2551]

This was what they were talking about all weekend on the news.  I think this could be extremely positive for those able to wait for the new drugs in the pipeline.  This is amazing news which also may benefit those of us who do not reach SVR.  If I was a gambler i would wait but the odds are against me.  So I will do treatment soon and research the stock and maybe gamble on BMY.

Have a great day!

Jules

[nowhine]

Additionaly, this is not necessarly a new drug as "nucleotide polymerase" inhibitors are currently in the trial pipeline. There are many of us really hoping these are the "holy grail". These drugs need to be tested before we will ever know if they work.

[willbb]

Well here we go again.A new drug to experiment with.Here,try this,or if that fails,try this.I told my doctor I am not a guinea pig"
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This thread was posted to give other members some info. on one drug company acquiring another company as a reference of information .
The larger one is joining forces with the one that seems to have a lead with an oral medication with lots of promise in the fight against HCV.

This is great news for those in the future who are waiting to treat and for those treating now that may fail  their current regime( hopefully not,but maybe yourself)

[orphanedhawk]

"I want to know the truth and not probability"

The truth is life is a gamble.
No one knows when your time is up so you might as well enjoy it while you're here.

As someone who came close to death from HCV, had a transplant, and is doing tx, I am very happy about the new oral meds.
The horizon looks bright!

[micheall]

Well here we go again.A new drug to experiment with.Here,try this,or if that fails,try this.I told my doctor I am not a guinea pig.My mom went through this with cancer.No magic bullet.She died with out a good treatment.It is true that everyone responds differently to different treatments.But when one after another fails,you become discouraged.I am on my 3drug treatment after my 2drug treatment failed.I will continue Incivek for 24 weeks and if the blood work is, well I need to make a decision on that when the time comes.I am a fighter and I am determined to get rid of this.But I am 63 now and I am week from 20 months of treatment,6 months off between the two.I want to know the truth and not probability.A cure is what I need, not hope.

[pooh55811]

Thanks for posting that information.

I am happy to read about all of the new drugs being developed. While I  am hoping to attain SVR this time around, it is good to know there are some promising new drugs coming down the pipeline (just in case). In addition, if the new drugs make treatment a little easier for those treating, that will be fabulous.

[willbb]

Bristol-Myers Squibb to Acquire Inhibitex

Strategic Acquisition Supports Long-Term Growth Potential of the Company
Builds on Company’s Strong Legacy and Commitment in Virology
Enhances Company’s Broad HCV Portfolio with Addition of INX-189, a potent NS5B Nucleotide
NEW YORK & PRINCETON, N.J. & ATLANTA--(BUSINESS WIRE)--Bristol-Myers Squibb Company (NYSE:BMY) and Inhibitex, Inc. (Nasdaq:INHX) announced today that the companies have signed a definitive agreement under which Bristol-Myers Squibb will acquire Inhibitex for $26.00 per share in cash pursuant to a cash tender offer and second step merger. The transaction, with an aggregate purchase price of approximately $2.5 billion, has been approved by the boards of directors of both companies. The board of directors of Inhibitex has agreed to recommend that Inhibitex’s shareholders tender their shares in the tender offer. In addition, shareholders with beneficial ownership of approximately 17% of Inhibitex’s common stock have entered into agreements with Bristol-Myers Squibb to support the transaction and to tender their shares in the tender offer.

“Bristol-Myers Squibb continues to drive advances in the field of hepatitis C research and development through internal development and selective partnerships”
Inhibitex is a clinical-stage biopharmaceutical company dedicated to the development of innovative products that can treat or prevent serious infections, whose primary focus is on the development of nucleotide/nucleoside analogs for the treatment of hepatitis C virus (HCV). Its lead HCV asset is INX-189, an oral nucleotide polymerase (NS5B) inhibitor in Phase II development that has exhibited potent antiviral activity, a high barrier to resistance and pan-genotypic coverage. Nucleotides/nucleosides are emerging as an important class of antivirals that may play a critical role as the backbone of future direct-acting antiviral-only combination approaches to HCV treatment.

“The acquisition of Inhibitex builds on Bristol-Myers Squibb’s long history of discovering, developing and delivering innovative new medicines in virology and enriches our portfolio of investigational medicines for hepatitis C,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “There is significant unmet medical need in hepatitis C. This acquisition represents an important investment in the long-term growth of the company.”

“