A new blood thinner developed by Bristol-Myers Squibb and Pfizer Inc was found to be more effective than warfarin in the Phase III trials conducted by the companies.

The drug is expected to compete with Boehringer Ingelheim’s Pradaxa and another drug, Xarelto, which has been jointly developed by Bayer and Johnson & Johnson.
Shares of Bristol-Myers rose by 7.3 percent to $29.78 while Pfizer shares also increased by 3.9 percent to $21.06 at the New York Stock Exchange.
Source-Medindia