The loss of patent protection last year on paclitaxel (Taxol) has posed the biggest threat to Bristol-Myers Squibb Co. 's leadership position in oncology drugs in over a decade. Never a company reliant on internal R&D, it badly needed to in-license a major late-stage or already-marketed product to sustain its franchise.
Bristol's whopping September deal for ImClone Systems Inc. 's lead cancer product, IMC-C225, should therefore be viewed more as...
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