Bristol’s drug dilemma
Bristol-Myers Squibb shares sank 10 percent Monday after the company reported disappointing data for one of its lung cancer drugs.
Bristol-Myers’ drug Opdivo is going head-to-head with Merck & Co.’s Keytruda. Both are designed to bolster the immune system so that patients can better fight cancer. The drugs are both already approved to treat melanoma and lung cancer, but only after chemotherapy.
The companies have been trying to find ways to expand their use. Studies released Sunday at the European Society for Medical Oncology Congress found Opdivo did not do better than chemotherapy treatment for some patients. Meanwhile, a study of Merck’s Keytruda found it notably reduced the risk of death or cancer progression.