Bristol-Myers to issue arthritis drug data

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Bristol-Myers Squibb Co. plans to present later this week promising findings emerging from final testing of arthritis therapy Abatacept, the company said Monday.

Abatacept is designed to treat rheumatoid arthritis in a new way, by shutting down the body’s assault on its own joints—the root of arthritic pain for millions of people. Existing arthritis treatments target different mechanisms in the body that lead to arthritis.

Specifically, the drug works by neutralizing the immune system’s T cells that help direct the assault, New York-based Bristol-Myers said.

The company said it would present its study results at a meeting of the American College of Rheumatology in San Antonio, Texas.

According to Bristol-Myers, about 2.1 million people in the United States have rheumatoid arthritis.

Shares of Bristol-Myers rose 44 cents, or 1.9 percent, to $23.45 in afternoon dealings.

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