BRISTOL-MYER's PLATINOL EXCLUSIVE LICENSE EXTENDED UNTIL 1996

Executive Summary

BRISTOL-MYER's PLATINOL EXCLUSIVE LICENSE EXTENDED UNTIL 1996, when the government's patent on the compound expires, Bristol-Myers announced in a Jan. 15 release. The agreemment extends by eight years the company's right to exclusively market the anticancer agent. The recent extension of marketing exclusivity marks the second time Bristol-Myers has renegotiated its licensing agreement with the government. Under its initial licensing agreement, the company had rights to cisplatin through 1983. Bristol-Myers renegotiated the original agreement at the end of 1983 and obtained an additional five years of marketing exclusivity. Unlike the 1983 extension, there are no conditions to the most recent extension of the exclusive marketing rights, according to Bristol-Myers. As a condition of the 1983 licensing arrangement, Bristol-Myers agreed to conduct additional research and development work with the drug and to lower prices by 30%. Under the 1983 agreement, Bristol-Myers was to assess the use of Platinol in several new cancer indications, including: head and neck, cervical, prostate, malignant lymphoma, bone and soft tissue sarcoma, upper gastrointestinal, lung and esophageal. The company is in clinical trials with cisplatin for all of the additional indications except bone and soft tissue sarcoma, which is still being evaluated. Cisplatin is currently approved for use in bladder, testicular and ovarian cancers.