Former Celgene Drug Earns a Key Approval for Bristol Myers Squibb

An underserved group of anemic Americans recently gained access to a new red blood cell booster that works much differently than the old standard. The FDA has approved Reblozyl from Bristol Myers Squibb (NYSE: BMY) for the treatment of patients with a group of related blood cancers called myelodysplastic syndromes (MDS). 

Celgene licensed Reblozyl from Acceleron Pharma in 2011 for just $25 million upfront, but it was a big reason Bristol Myers Squibb acquired Celgene for $74 billion last year.

Image source: Getty Images.

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Source Fool.com