B-MS gets Zeposia approval but delays launch due to coronavirus

Bristol-Myers Squibb (NYSE: BMY) has received US approval for Zeposia (ozanimod) for relapsing forms of multiple sclerosis, including clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease.

The US pharma major acquired this drug as part of its $74 billion buy of biotech company Celgene last year. It was seen as one of the latter company’s most promising pipeline assets in late-stage development. B-MS’ shares were up 6% at $52.32 by mid-afternoon trading today.