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How Did Bristol-Myers Squibb Fare in 2Q16?

PART:
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Part 5
How Did Bristol-Myers Squibb Fare in 2Q16? PART 5 OF 8

Opdivo: The Oncology Blockbuster for Bristol-Myers Squibb

Opdivo

Bristol-Myers Squibb’s (BMY) latest drug, Opdivo, was the seventh drug to be approved by the US FDA for the treatment of melanoma. Apart from melanoma, this drug is also approved for the treatment of lung cancer. Opdivo reported revenues of $840 million in 2Q16 as compared to $122 million in 2Q15.

Opdivo: The Oncology Blockbuster for Bristol-Myers Squibb

What Opdivo means to BMY

Opdivo is a blockbuster drug and is expected to be one of the company’s major revenue contributors in the next five years. This drug is already approved for melanoma, forms of lung cancers, and renal cell carcinoma (or kidney cancer). It has expanded uses for the treatment of previously treated non-small cell lung cancer.

Opdivo developments in global markets

For US markets, lung cancer is an important opportunity for Bristol-Myers Squibb, as it is the first company to market drugs for squamous cell cancer.

Key developments for Opdivo include:

  • The US Food and Drug Administration (or FDA) accepted Opdivo for priority review for the treatment of head and neck cancer (or squamous cell carcinoma of head and neck) in July 2016, based on the data from the Checkmate-141 study. The European Medicines Agency also validated applications submitted for the use of Opdivo for the treatment of head and neck cancer.
  • FDA granted Breakthrough Therapy designation to Opdivo for the treatment of urothelial carcinoma in June 2016.
  • FDA approved Opdivo for the treatment of classical Hodgkin Lymphoma in May 2016 based on the data from Phase I of the Checkmate-039 and Phase II of the Checkmate-205 study.
  • The European Commission approved the combination of Opdivo and Yervoy for the treatment of metastatic melanoma in May 2016 based on the data from the Phase III Checkmate-067 study.

Apart from Opdivo, Yervoy is also used for the treatment of Melanoma. The US FDA and European Commission have validated the combination of Opdivo with Yervoy for metastatic melanoma.

Other drugs used for the treatment of melanoma are Merck’s (MRK) Intron A, Sylatron, and Keytruda, Novartis’s (NVS) Proleukin, GlaxoSmithKline’s (GSK) Mekinist and Tafinlar, and Roche’s Zelboraf. Investors can consider the PowerShares Dynamic Large Cap Growth Portfolio (PWB), which holds 3.4% of its total assets in Bristol-Myers Squibb.

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