Bristol-Myers Squibb, Japanese drugmaker expand deal

NEW YORK Drugmaker Bristol-Myers Squibb Co said Monday it is extending a partnership on one drug and will collaborate on two others.

The drugmaker said that it is prolonging a deal until 2015 with Otsuka Pharmaceutical Co. The companies will share revenue and marketing costs for psychiatric drug Abilify, which Otsuka discovered. With the new agreement, the Abilify deal will run until it loses patent protection around April 2015.

Otsuka and Bristol-Myers have shared the marketing of Abilify since 1999. The drug is approved for schizophrenia, bipolar disorder and depression. The two companies expect a decision late this year on whether they can also market Abilify in the U.S. for irritability in 6- to 17-year-olds with autism.

Meanwhile, the companies agreed to share revenue and marketing and further development costs for two Bristol cancer drugs, Sprycel and Ixempra.

Sprycel, which had about $400 million in 2008 sales, is approved for treating two types of leukemia and is in final-stage testing for prostate cancer.

Ixempra, launched at the end of 2007, had about $100 million in sales last year. It is approved for treating advanced breast cancer after patients have failed on other types of cancer drugs, and is in early human testing for prostate cancer.

"This is one of the more significant levers we can pull to improve our business outlook in 2013," said Bristol-Myers spokeswoman Tracy Furey.

Shares of Bristol-Myers rose 47 cents Monday, or 2.3% to $20.64.