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A European regulatory setback for a Bristol-Myers Squibb (BMY) blood-cancer drug could have a negative spillover effect for Agios Pharmaceuticals (AGIO) and its sole wholly owned drug.

On Friday, the European Medicines Agency disclosed that Bristol withdrew a marketing application for Idhifa, a targeted medicine to treat acute myeloid leukemia, after an ongoing review had concluded that the drug’s clinical data did not support approval.

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