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 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.
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:
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.