Bristol-Myers Squibb Co (NYSE:BMY) is going to initiate a Phase 1 clinical trial of its licensed product Lirilumab. The trial will be done in combination with Elotuzumab. The product is meant for the treatment of patients suffering from multiple myeloma. The Phase 1 trial will assess and examine the safety of Lirilumab when advised with Elotuzumab. Also, the trial will check how well the patients can tolerate the medication. It is the first combination trial in a hematological tumor type
The new Phase 1 trial of Lirilumab in combination with Elotuzumab got published on ClincialTrials.gov. It is defined as a phase 1 randomized cohort expansion and open-label dose escalation study of the combined medication. The study will check the safety and tolerability when Elotuzumab and Lirilumab are administered in combination to patients suffering from multiple myeloma. The study will also check the impact of therapeutic antibodies that work by inducing ADCC can become the potential medication for cancer treatments or not. The trial is important as multiple myeloma is an area where there is a high need of new treatment therapies.
The other key news
Bristol-Myers Squibb Co (NYSE:BMY) is set to announce financial results for the third quarter 2014 on October 24, 2014. Also, there will be a conference call to analyze the financial information and answer the inquiries from analysts and investors. Also, Bristol-Myers wants to reduce its pension liability by transferring $1.4 billion pension obligations to the insurance firm Prudential Financial Inc. based in the US. The deal will also transfer a part of the risks to the insurer.
The transfer of pension obligations
The transfer deal is anticipated in the month of December 2014. After the deal, the responsibility of making annuity payments will be taken by Prudential Financial. It will be done as per the terms and conditions mentioned in the annuity contract.