Bristol-Myers Squibb Co (NYSE:BMY) stock was unchanged even on the company reiterating its immuno-oncology franchise was on course to generate $1 billion in sales. Opdivo, the company’s candidate drug for the treatment of multiple cancers is fuelling the optimism, after meeting its primary endpoints in a Phase 3 trials.
Opdivo Positive Phase 3 Results
Interim analysis indicates that the drug improved re-occurrence of progression free survival when compared to the company’s other drug Yervoy, currently in use for the treatment of Melanoma. Bristol-Myers is yet to release bottom line numbers and details about the drug. However, it plans to release the data at an upcoming conference which it says will show Opdivo’s ability to lower risk of disease recurrence.
The drug if approved is expected to be a standard care following surgery in high-risk patients with melanoma.
“These topline results support the potential promise of Opdivo as a treatment option for patients with high-risk surgically resected melanoma. There remains an unmet need for additional options as the majority of stage III and resected stage IV high-risk melanoma patients experience disease recurrence after surgery,” said Bristol-Myers, Vicki Goodman.
Yervoy is the first immuno-oncology agent to be approved by the FDA for the treatment of Melanoma. In recent years, there has been growing need for additional treatment options able to meet the needs of the growing melanoma patient population.
Yervoy vs. Opdivo
The stock failed to move a needle on the news, on the fact that even on the positive results the drug is still not a game changer but a competitor to Yervoy which is currently on sale. However, the drug should command impressive sales in the market given its superior safety and tolerability profiles. Bristol-Myers will also have to battle Merck & Co., Inc.(NYSE:MRK)’s Keytruda for sales
Immuno-oncology therapies, in particular combination therapies, are expanding care for cancer patients. Analysts at Leering in a research expect the adjuvant melanoma market to expand to about $3 billion presenting new sales opportunities for drug makers with drugs for the medical condition.
Bristol Myers was up by 0.84% in Wednesday’s trading session to end the day at $56.35 a share.
