Company news: IMS, BMS and AstraZeneca
Diabetes drug dapagliflozin is facing another setback. The FDA is asking for more risk information regarding the joint AstraZeneca/Bristol-Myers pharmaceutical that is intended to treat adult diabetes 2, reports Reuters and Marketwatch. This is the third time the FDA has delayed making a decision about the SGLT2 inhibitor. The FDA indicated in July 2011 that it was alarmed by breast and bladder cancer rates among patients. Analysts note the agency is particularly skittish in light of the finding that diabetes drug Avandia was linked to heart attacks. A research note by Bernstein analyst Tim Anderson adds that the field is facing a glut, rendering the drug unwanted by diabetes experts.