Paris 
                      -- March 1, 2011 -- Bristol-Myers Squibb (NYSE:BMY) announced 
                      today that Baraclude (entecavir) has been approved by the 
                      European Commission on February 28th 2011 to treat chronic 
                      hepatitis B (CHB) in adult patients with evidence of 
                      decompensated liver disease.
                      
                      
                         
                          |  | 
                         
                          | 
                               
                                | Entecavir 
                                    (Baraclude) Tablet |  | 
                      
                      Baraclude 
                        was already approved in Europe in June 2006 for use in 
                        adult patients with CHB with compensated liver disease 
                        and evidence of active viral replication, persistently 
                        elevated serum alanine aminotransferase (ALT) levels and 
                        histological evidence of active inflammation and/or fibrosis.
                      This 
                        approval grants Baraclude marketing authorization in the 
                        27 countries of the European Union. In the U.S., the Food 
                        and Drug Administration (FDA) approved the decompensated 
                        indication for Baraclude in October 2010.
                      Decompensated 
                        liver disease is characterized by failure of the liver 
                        to maintain adequate function, usually due to severe scarring, 
                        leading to fibrosis and/or cirrhosis caused by chronic 
                        liver inflammation. It represents the end stage of hepatitis. 
                        Natural history data demonstrate that up to 40% of patients 
                        with CHB develop cirrhosis over their lifetimes, at a 
                        reported rate of 2-6% per year. Among CHB patients with 
                        cirrhosis, 3-5% per year progress to decompensated cirrhosis 
                        and 2-5% develop hepatocellular carcinoma (HCC). Currently, 
                        the median survival rate in decompensated patients is 
                        two to three years, with only 28% of patients surviving 
                        for more than five years. Once liver disease progresses 
                        to the decompensated stage, a liver transplant is often 
                        necessary.
                      "The 
                        approval of this additional indication is an important 
                        milestone for CHB patients living with decompensated liver 
                        disease, a difficult to treat population whose mortality 
                        rates are high," said Professor Jorg Petersen. "The 
                        data used to support this indication shows that Baraclude 
                        is efficacious in treating decompensated patients."
                      This 
                        approval is based on a randomized, open-label, multi-centre 
                        study (ETV-048) that compared the efficacy and safety 
                        of Baraclude (1.0 mg once daily) with adefovir (10.0 mg 
                        once daily) administered in patients with HBeAg positive 
                        or negative CHB who had evidence of liver decompensation.
                      Data 
                        demonstrated that Baraclude showed greater viral suppression 
                        compared to adefovir at 24 and 48 weeks following treatment 
                        initiation. At 48 weeks, 57% (57/100) of patients treated 
                        with Baraclude achieved an undetectable viral load (less 
                        than or equal to 300 copies/mL) compared to 20% (18/91) 
                        of patients on adefovir [Hepsera].
                      ETV-048 
                        Study Results
                      The 
                        048 study evaluated 191 patients who were either HBeAG-positive 
                        or HBeAG-negative. Patients were either treatment-naive 
                        or had been previously treated excluding pre-treatment 
                        with Baraclude, adefovir, or tenofovir 
                        [Viread].
                      Patients 
                        were randomized to receive Baraclude (1.0 mg once daily) 
                        or adefovir (10.0 mg once daily) and were analyzed through 
                        48 weeks.
                      Baseline 
                        demographics were similar for both groups. Importantly, 
                        at baseline, patients had a mean CPT (Child-Pugh score) 
                        of 8.81 in the Baraclude arm and 8.35 in the adefovir 
                        arm, and the mean MELD (Model for End stage Liver Disease) 
                        score was 17.1 and 15.3, respectively. Both of these parameters 
                        measure the severity of hepatic decompensation.
                      The 
                        mean age of the study population was 52 years and the 
                        majority of the subjects were male (74%) and either Asian 
                        (54%) or Caucasian (33%).
                      In 
                        the primary efficacy endpoint of mean change from baseline 
                        in serum HBV DNA at Week 24, Baraclude was superior to 
                        adefovir (-4.48 versus -3.40; P < 0.0001).
                      Secondary 
                        efficacy endpoints included mean change from baseline 
                        in serum HBV DNA at Week 48 (-4.66 in the Baraclude arm 
                        and -3.90 in the adefovir arm). In addition a greater 
                        proportion of patients on Baraclude achieved an undetectable 
                        viral load compared to patients on adefovir at 48 weeks: 
                        57% (57/100) versus 20% (18/91), respectively. 
                      Also 
                        patients on the Baraclude arm decreased their MELD score 
                        from baseline by -2.6% versus -1.7% in the adefovir arm 
                        at Week 48, even though baseline MELD score had been higher 
                        with 17.1 for Baraclude than 15.3 for adefovir. Further 
                        the normalization of ALT (alanine aminotransferase enzyme) 
                        was achieved to a higher proportion in the Baraclude-treated 
                        patients (less than or equal to 1 x Upper Limit of Normal) 
                        at Week 48 [63% (49/78)] compared with adefovir-treated 
                        patients [46% (33/71)].
                      The 
                        time to onset of HCC or death was comparable in the two 
                        treatment groups; on-study cumulative death rates were 
                        23% (23/102) and 33% (29/89) for patients treated with 
                        Baraclude and adefovir, respectively; and on-study cumulative 
                        rates of HCC were 12% (12/102) and 20% (18/89) for Baraclude 
                        and adefovir, respectively.
                      Baraclude 
                        was generally well tolerated and safety results were comparable 
                        between the treatment groups and consistent with those 
                        previously reported for a population with decompensated 
                        liver disease. Serious adverse events occurred in 69% 
                        of the Baraclude patients and 66% of the adefovir patients 
                        and discontinuations due to adverse events occurred in 
                        7% of the Baraclude patients and 6 % of the adefovir patients. 
                        
                      Important 
                        Information About Baraclude
                      Discovered 
                        at Bristol-Myers Squibb, Baraclude is indicated for the 
                        treatment of chronic hepatitis B virus (HBV) infection 
                        in adults with:
                      
                         
                          |  | Compensated 
                            liver disease and evidence of active viral replication, 
                            persistently elevated serum alanine aminotransferase 
                            (ALT) levels and histological evidence of active inflammation 
                            and/or fibrosis. | 
                         
                          |  | Decompensated 
                            liver disease. | 
                      
                      A 
                        higher rate of serious hepatic adverse events (regardless 
                        of causality) has been observed in patients with decompensated 
                        liver disease, in particular in those with Child-Turcotte-Pugh 
                        (CTP) class C disease, compared with rates in patients 
                        with compensated liver function. In addition, patients 
                        with decompensated liver disease may be at higher risk 
                        for lactic acidosis and specific renal adverse events 
                        such as hepatorenal syndrome. Clinical and laboratory 
                        parameters should be closely monitored in this patient 
                        population.
                      For 
                        full prescribing information for Baraclude, please consult 
                        the Summary of Product Characteristics.
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                        Bristol-Myers Squibb
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                        Squibb is a global biopharmaceutical company committed 
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