Bristol-Myers Squibb Issues Statement On Lobucavir

Preliminary observations in Bristol-Myers Squibb Co.'s lifetime rodent toxicology study of lobucavir suggest a possible drug-related increase in tumor occurrence. Lobucavir is a nucleoside analogue in Phase III development for chronic hepatitis B and herpes viruses.

Although such findings are not unique among this class of antiviral agents, Bristol-Myers Squibb has elected to suspend its clinical studies of lobucavir until it has had the opportunity to assess thoroughly the implications of these findings on the future development of the drug. It should be noted that no relationship between lobucavir and tumor occurrence has been reported in humans, Bristol-Myers Squibb stated.

The Company has contacted the U.S. Food and Drug Administration and is in the process of contacting other regulatory agencies and study investigators to inform them of these actions.

For more information: Ami Knoefler, 609-818-3016, or Peggy Ballman, 609-818-3015, both of Bristol-Myers Squibb.