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BRISTOL-MYERS SQUIBB ISSUES STATEMENT ON TAXOL

 NEW YORK, Nov. 16 ~CNW~ - Bristol-Myers Squibb


Company (NYSE: BMY) today announced that the U.S. Food and Drug

Administration's Oncologic Drug Advisory Committee has recommended that Taxol (R) (paclitaxel) be approved by FDA for use in treating patients with cancer of the ovary who have failed standard therapy.
 The New Drug Application for Taxol was submitted to the FDA on July 22, 1992, 18 months after Bristol-Myers Squibb entered into the Cooperative Research and Development Agreement (CRADA) with the National Cancer Institute. The original objective, as specified by the CRADA, was to file an NDA within four years.
 Bristol-Myers Squibb is a diversified, research-based health care company whose principal businesses are pharmaceuticals, consumer products, nutritionals and medical devices.
 For further information: Nancy L. Goldfarb of Britol-Myers Squibb Company (212) 546-5107
 (BMY)
 -0- 11~16~92


CO: BRISTOL-MYERS SQUIBB COMPANY IN: MTC ST: NY

-- XX1676 -- X336 11~16~92
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Publication:PR Newswire
Date:Nov 16, 1992
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