(Reuters) -The U.S. Food and Drug Administration (FDA) on Wednesday approved Bristol-Myers’ drug to treat patients with a type of lung cancer.
The company acquired the drug, repotrectinib, as part of its $4.1 billion buyout of Turning Point Therapeutics last year.
The drug is set to compete in a crowded market for lung cancer treatments and contend for market share with Bristol Myers’ other drug Opdivo, and rival cancer drugs made by Roche, Merck and AstraZeneca.
Repotrectinib belongs to a class of treatments known as tyrosine kinase inhibitors, which block a type of protein enzyme and stop cancer cells from growing.
(Reporting by Bhanvi Satija in Bengaluru; Editing by Devika Syamnath)
