An Early Surprise Win For BMS’s Opdivo/Yervoy In Lung Cancer
CheckMate-9LA testing nivolumab plus ipilimumab plus chemo was stopped early due to a survival win. The promise of another foothold in first-line lung cancer could buoy investors ahead of what could be disappointing Q3 sales.
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Data from CheckMate-9LA and -227 that will be presented at the ASCO virtual meeting support a low-dose chemo combo with the two drugs and the newly US FDA-approved chemo-free indication.
Bristol Myers Squibb brought in $500m from customers that overbought in case of drug shortages, but first quarter sales still grew 8% excluding those purchases and BMS projects growth through 2021.
The company believes the PD-1 inhibitor’s recent declines will be reversed through new indications, providing revenue growth along with other new products by the time Revlimid faces generics in 2022.