Drug OK for Bristol-Myers Squibb

Bristol-Myers Squibb ( BMY) Tuesday said that U.S. regulators had approved an oral solution, or liquid, version of Abilify, its treatment for schizophrenia and bipolar disorder.

The New York-based company, which developed the drug with Japan's Otsuka Pharmaceutical, said the Food and Drug Administration approval means adult patients who have difficulty with the tablet form of the drug have a viable option.

Bristol-Myers said the liquid form will be available in February. Abilify was approved in 2002 and has been prescribed to more than 700,000 patients since then.

The drug was approved for the treatment of schizophrenia and acute manic and mixed episodes associated with bipolar disorder, according to the company.

Shares were down 25 cents, or 1%, to $25.18.

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