Pfizer, Bristol-Myers Squibb Announce Positive Opinion For Treatments

Before the market opened on Friday, Pfizer PFE and Bristol-Myers Squibb BMY announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency has recommend that Eliquis (apixaban) be granted marketing authorization for use in the treatment of deep vein thrombosis and pulmonary embolism, as well as to prevent the recurrence of the condition in adults.

The decision as to whether Eliquis will receive authorization will now be made by the European Commission. Upon ruling, the European Commission's decision will apply to all European Union members, as well as Norway and Iceland.

The Committee for Medicinal Products for Human Use based its recommendation on the result of the AMPLIFY and AMPLIFY-EXT studies.

Following the announcement, shares of both companies traded up ~0.2 percent in the pre-market.