FDA approves BMS's (BMY.US) lung cancer drug repotrectinib.

According to reports, the FDA has approved Bristol-Myers Squibb's drug repotrectinib for the treatment of a type of non-small cell lung cancer. Media reported later on Wednesday that the drug has been approved. The agency accepted BMS's repotrectinib application in May. The pharmaceutical company is seeking approval for the use of the drug in the treatment of advanced or metastatic ROS1-positive non-small cell lung cancer. In 2022, BMS acquired Turning Point Therapeutics for $4.1 billion, thereby gaining access to the repotrectinib therapy.