Second Circuit examines whether Bristol-Myers delayed cancer drug

FDA drug approvals during the Covid-19 pandemic sparked questions from the Second Circuit on Friday in a shareholder class action lawsuit involving allegations Bristol-Myers Squibb Co., deceived about a payout that was dependent on the approval of cancer drugs.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit is considering whether a lower court was correct in dismissing a class action lawsuit alleging that Bristol-Myers misled investors about a payout . The payment was contingent on the Food and Drug Administration's approval of three cancer therapy drugs, liso-cel, idecel and ozanimod, in connection with Bristol-Myers' 2019 acquisition of another pharmaceutical company, Celgene.

Bristol Myers…