* No increased death rate with Maxipime antibiotic-FDA
* FDA reviewing deaths since 2007 (Adds shares, Bristol-Myers comment)
WASHINGTON, June 17 (Reuters) - An analysis by U.S. regulators found Bristol-Myers Squibb (BMY.N) and Elan Corp’s ELN.I ELN.N antibiotic Maxipime was not associated with a higher rate of death compared with similar drugs, the Food and Drug Administration said on Wednesday.
Maxipime “remains an appropriate therapy for its approved” uses, the FDA said in a notice on its website.
The agency said in November 2007 it was reviewing a study that suggested there may be a higher death rate in patients treated with the drug, known generically as cefepime.
“FDA has determined that the data do not indicate a higher rate of death in cefepime-treated patients,” the agency said in its announcement.
The FDA will continue to review the safety of the drug, the agency said. Separate analyses from the agency and Bristol-Myers are ongoing, and results likely will be reported in one year.
Maxipime is approved to treat pneumonia and other infections. Elan distributes the drug in the United States under a license from Bristol-Myers.
Bristol-Myers said its own analysis also showed no increase in deaths with Maxipime when compared to similar drugs.
Officials at Elan could not immediately be reached.
Elan reported first-quarter revenue of $5 million from Maxipime, a 50 percent drop from a year earlier. The company said the decrease was mainly due to generic competition launched in 2007.
Elan shares fell 2.41 percent to close at $7.30 on the New York Stock Exchange. Bristol-Myers shares gained 2.8 percent to close at $19.92, also on the NYSE.
The FDA notice was posted here. (Reporting by Lisa Richwine; editing by Derek Caney, Bernard Orr)