Bristol Myers’ bowel disease drug fails to meet main goal in late-stage study

(Reuters) – Bristol Myers Squibb said on Thursday its experimental drug to treat Crohn’s disease, a chronic inflammatory bowel condition, failed to meet the main goal in a late-stage study.

Crohn’s disease, which results in the swelling or inflammation of the intestines, affects over one million people in the U.S., according to government data.

The drug, ozanimod, did not help patients achieve clinical remission after 12 weeks of treatment, the company said.

Bristol Myers said it will evaluate the trial data and work with investigators to share the results with the scientific community.

(Reporting by Mariam Sunny in Bengaluru; Editing by Krishna Chandra Eluri)