Bristol-Myers Skin Cancer Drug Prolongs Survival

A drug from Bristol-Myers Squibb(BMY) that harnesses the immune system to fight cancer reduced helped patients with advanced melanoma live, on average, 3.6 months longer and reduced their risk of death by as much as 34%, according to results from a phase III study released Saturday at the American Society of Clinical Oncology (ASCO) annual meeting.

Bristol is clearly excited about its melanoma drug, known as ipilimumab, announcing last March that the results from this 676-patient, phase III study were positive and that the company planned to apply for approval later this year.

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