Bristol Myers Wins Dismissal of Pomalyst Antitrust Lawsuit

Bristol Myers Squibb has successfully dismissed a class action lawsuit that accused the company of maintaining an illegal monopoly on its cancer drug Pomalyst through fraudulent patents and litigation. U.S. District Judge Edgardo Ramos ruled that the plaintiffs, led by Blue Cross Blue Shield of Louisiana, failed to provide sufficient evidence of fraud or that the legal actions against generic manufacturers were baseless. The plaintiffs alleged that the company delayed the entry of cheaper generics, resulting in inflated prices since at least October 2020, but the judge found no proof of wrongdoing. Pomalyst, which generated $3.55 billion in sales in 2024, was originally developed by Celgene, acquired by Bristol Myers in 2019. The ruling underscores the challenges plaintiffs face in proving antitrust violations in the pharmaceutical industry. The case is significant as it highlights ongoing concerns about drug pricing and market competition.