BP hardly develops new drugs from the very start any more. They let small cap bios go through the money and science battles until they get into a decent Phase II. BP then swoops in and buys or licenses the compound and makes the big big bucks on the backs of all the struggling little guys who took the big risks. BP spends more on promotion and distribution of the drugs they sell than on drug development.
Yes I particularly liked Dr Pierce making the point the interim data on the combination trial will be released soon and it will also be used in discussions with the FDA in constructing the registration trial requirements, and not needing to wait for the final readout of the combination trial later next year. Very bullish hint that what they see so far is very good.