Bristol-Myers Squibb Co. – with operations in Wallingford – said Wednesday European regulators approved Orencia as an early treatment for rheumatoid arthritis, the Associated Press reports.
The drug was first approved as a rheumatoid arthritis treatment in Europe in 2007. It is also approved in the U.S.
The new approval, given on July 1, is for the new use of Orencia for moderate to severe active rheumatoid arthritis in adults who have responded inadequately to previous therapies.
The drug posted sales of $169 million during the first quarter.
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Shares of Bristol-Myers rose 11 cents to $25.35 in morning trading.
