Chemical Market Reporter - Bristol-Myers plunges on Vanlev data. (Life Sciences).(Brief Article)(Statistical Data Included)
BRISTOL-MYERS Squibb Company (BMS) saw its stock plunge last week on the release of clinical trial data for its anti-hypertensive drug Vanlev (omapatrilat). The data showed the drug was not superior to Merck & Co. Inc.’s Vasotec (enalapril) in the treatment of congestive heart failure (CHF).
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Vanlev is a vasopeptidase inhibitor, unlike Vasotec, an angiotensin-converting enzyme (ACE) inhibitor. Analysts are slashing earnings per share estimates on BMS for 2003 and beyond, while maintaining 2002 EPS projections.
Deutsche Banc Alex. Brown analyst Barbara Ryan lowered her …
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