Judge Rules Bristol Myers Must Face $6.7B Lawsuit Over Delayed Cancer Drug

A U.S. judge on Monday rejected Bristol Myers Squibb’s bid to dismiss a $6.7 billion lawsuit claiming it cheated shareholders of the former Celgene by delaying federal approval for three drugs, including the cancer treatment Breyanzi, by specified deadlines.

While dismissing some claims, U.S. District Judge Jesse Furman in Manhattan said the plaintiff UMB Bank may pursue some claims on behalf of the shareholders, including for breach of contract.

(Reporting by Stempel in New York; Editing by Chris Reese)