Blood Cancer Meeting Abstracts Released: BioBuzz

(Updated with comment from Onyx)

BOSTON, Mass. (TheStreet) -- Research abstracts for next month's American Society of Hematology annual meeting have been posted online. You can search the abstracts here. Some quick thoughts:

The abstract for the MM-015 multiple myeloma study of Celgene's(CELG Quote) Revlimid contains no efficacy data. Investors will have to wait for the meeting to see results. Celgene is selling off a bit, likely just on the disappointment over no data in the abstract.

Onyx Pharmaceuticals'(ONXX Quote) carfilzomib showed an 18% overall response rate and low side effects in multiple myeloma patients who were refractory or relapsed after initial treatment with Velcade, according to data from a phase IIb study. But is the data in the abstract new and updated from what's been presented from this study already? I don't know, still trying to get an answer.

Update: An Onyx spokesperson says the data in the abstract is not new but will be updated at the ASH meeting next month.

Follow-on data on Cephalon's(CEPH Quote) Treanda in non-Hodgkin's lymphoma -- this is the Treanda plus Rituxan versus Rituxa-chemotherapy phase II study -- looks strong.

Phase II data on Incyte Corp.'s(INCY Quote) INCB018424 in patients with Advanced Polycythemia Vera (PV) and Essential Thrombocythemia (ET) Refractory to Hydroxyurea is being called "exceptional" by the analysts at Cowen.

More updates to come...

Bristol Licenses Arthritis Drug

(At 9:20 AM ET)

Bristol-Myers Squibb(BMY Quote) acquired worldwide rights to an experimental rheumatoid arthritis drug from privately held Alder Pharmaceuticals, the companies announced Tuesday.

The drug, ALD518, is an injectable monoclonal antibody that targets and blocks the production of IL-6, a molecule that plays role in the inflammation, swelling, pain and destruction of bone joints. The drug has completed a phase IIa study, to date.

ALD518 shares the same mechanism as Roche's rheumatoid arthritis drug Actemra, which is currently under review by the U.S. Food and Drug Administration.

In exchange for worldwide rights to ALD518 for all indications but cancer, Alder receives from Bristol $85 million in cash up front, and is eligible for an additional $764 million in future development and regulatory milestone. Alder will also receive royalties based on future ALD518 sales and Bristol may invest up to $20 million in a possible Alder initial public offering.

Bristol already markets a rheumatoid arthritis drug, Orencia, and has another oral drug in phase II studies, according to BioMedTracker.com

Speaking of oral rheumatoid arthritis drugs, Rigel Pharmaceuticals(RIGL Quote) is still seeking a partner for its phase II drug candidate, R788.

Survey the RA Treatment Landscape

Doctors expect to prescribe modest amounts of two new biologic rheumatoid arthritis drugs from Johnson & Johnson(JNJ Quote) and UCB over the next year, which means market share for existing drugs from Amgen(AMGN Quote) and Abbott Labs(ABT Quote) should remain relatively protected.

That's headline conclusion from a survey of rheumatoid arthritis doctors published Tuesday by Sanford Bernstein.

The recent launches of J&J's Simponi and UCB's Cimzia are expected to help grow the overall RA treatment market, but market share for each drug is only expected to reach 9% and 7%, respectively over the next 12 months, the Bernstein survey finds.

"Adoption of the new entrants looks to be gradual, consistent with their lack of an established safety profile and challenges with formulary access," the Bernstein report says.