新基制药的潜在重磅药物 ozanimod 商业化的一个潜在障碍是知识产权。过去几周，百时美施贵宝一直在忙于平息投资者对这笔交易的担忧，该公司正在努力淡化风险。
As if Bristol-Myers Squibb didn’t have enough to worry about, what with major investors trying to scuttle its $74 billion acquisition of Celgene, now a new concern has emerged—and it involves one of the six drug candidates that BMS executives have cited as justification for the massive merger.
似乎百时美施贵宝没有足够的担心，主要投资者试图阻止其对新基的740亿美元收购，现在又出现了一个新的担忧——这涉及到百时美施贵宝高管们认为是大规模合并的理由之一的六个候选药物之一。
That drug is ozanimod, Celgene’s multiple sclerosis treatment, which analysts had pegged as a potential blockbuster until the FDA handed the company a crushing refuse-to-file notice early last year. The FDA asked for more data on preclinical and clinical pharmacology, forcing Celgene to delay its application for approval until this year.
这种药物是新基的多发性硬化症治疗药物 ozanimod ，分析人士将其作为一种潜在的重磅炸弹，直到 FDA 在去年早些时候向该公司发出了一份令人沮丧的拒绝备案通知。FDA 要求更多关于临床前和临床药理学的数据，迫使新基将ozanimod的申请推迟到今年。
But now Credit Suisse analysts have spotted another potential hurdle to the commercialization of ozanimod: intellectual property. BMS, which has been scrambling over the last few weeks to quell investors’ concerns about the deal, is downplaying the risk, but that’s of no comfort to the analysts.
但如今，瑞信分析师发现，ozanimod商业化的另一个潜在障碍是知识产权。过去几周，百时美施贵宝一直在忙于平息投资者对这笔交易的担忧，该公司正在淡化风险，但这对分析师来说并不是什么安慰。
Credit Suisse learned that Novartis holds a key patent on the class of medicines to which ozanimod belongs, S1P modulators. The patent covers dose titration, 「a critical component of ozanimod’s product profile as all three proposed indications currently require dose titration,」 Credit Suisse said in a note sent to investors earlier this week. Celgene is also developing the drug to treat ulcerative colitis and Crohn’s disease.
瑞士信贷了解到诺华拥有奥扎尼莫德所属的一类药物 S1P 调制器的关键专利。瑞士信贷在本周早些时候发给投资者的一份报告中表示，该专利涵盖剂量滴定，「这是 ozanimod 产品系列的一个关键组成部分，因为所有三个拟议的适应症目前都需要剂量滴定。」新基也在开发治疗溃疡性结肠炎和克罗恩病的药物。
The analysts initially sent out a note saying BMS was aware that the patent could be a roadblock, but after the company’s investor-relations folks stepped in, Credit Suisse tweaked its warning. While Credit Suisse fears the patent could present a problem, the revised note said, BMS executives 「believe they will be able to manage through this hurdle and are not overly concerned about it.」
分析师最初发出一份报告称，百时美施贵宝意识到该专利可能是一个路障，但在该公司的投资者关系人士介入后，瑞信调整了其警告。尽管瑞士信贷担心该专利可能会带来问题，但修订后的报告表示，百时美施贵宝高管「相信，他们将能够克服这一障碍，而不是过分担心。」
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