Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Albany Molecular Falls as Bristol-Myers Ends Drug Studies

Aug. 12 (Bloomberg) -- Albany Molecular Research Inc. fell the most in three months after saying that Bristol-Myers Squibb Co. ended development of a depression drug under partnership.

Albany Molecular declined 10 percent to $11.31 at the close in New York, the biggest single-day drop since May 7. Shares of the Albany, New York-based company have more than doubled this year.

Bristol-Myers is ending testing on BMS-820836, an experimental depression treatment, after the medicine failed to meet its goals in clinical studies, Albany Molecular said today in a regulatory filing. The two companies will have “continued discussions” about the compound’s future and plans for other medicines, according to the filing.

Albany Molecular said the end of the drug’s development wouldn’t affect the forecast for the 2013 third-quarter and full year. The company said Aug. 6 that it expects earnings excluding some items of 9 cents to 12 cents a share for the quarter and 54 cents to 65 cents for the year.

To contact the reporter on this story: Alex Nussbaum in New York at

To contact the editor responsible for this story: Reg Gale at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.