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Bristol-Myers Squibb’s Latest Developments and Valuation

PART:
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Part 4
Bristol-Myers Squibb’s Latest Developments and Valuation PART 4 OF 8

Bristol-Myers Squibb’s Opdivo and Recent Developments

Opdivo  

Bristol-Myers Squibb’s (BMY) Opdivo is part of the company’s alliance with Ono Pharmaceuticals. Opdivo was the largest revenue-contributing drug for the company in 2Q17.

Bristol-Myers Squibb’s Opdivo and Recent Developments

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The above chart shows revenues for Opdivo over the last few quarters. Opdivo reported 42% growth in revenues to $1.19 billion in 2Q17, compared to revenues of $840 million in 2Q16.

Uses of Opdivo

Opdivo is approved for the treatment of various indications.

  • previously treated patients with advanced non–small cell lung cancer
  • patients with Metastatic Melanoma
  • patients with squamous cell carcinoma of the head and neck that has relapsed or spread after previous treatments
  • patients with classical Hodgkin lymphoma, where the cancer has relapsed after autologous stem cell transplant and treatment with Adcetris, or where the cancer has relapsed after three or more treatments includingautologous stem cell transplant
  • previously treated patients with advanced renal cell carcinoma
  • previously treated patients with advanced urothelial carcinoma
  • patients with metastatic, MSI-H or dMMR colorectal cancer, which has reported progression after treatment with fluoropyrimidine, irinotecan, and oxaliplatin
  • patients with hepatocellular carcinoma (or liver cancer) who have been previously treated with Nexavar (sorafenib).

Recent Opdivo developments

  • On September 22, the US Food and Drug Administration (or FDA) approved Opdivo (nivolumab) for the treatment of hepatocellular carcinoma in patients previously treated with Sorafenib.
  • On September 22, Bristol-Myers Squibb and AbbVie (ABBV) announced a collaboration for clinical trials of AbbVie’s investigational drug ABBV-399 in combination with Opdivo for the treatment of c-met overexpressing non–small cell lung cancer.
  • On September 10, BMY announced the results of its Checkmate-214 study, a phase III trial evaluating the Opdivo-Yervoy combination in comparison with sunitinib for the treatment of previously untreated, advanced, or metastatic renal cell carcinoma.
  • On September 6, BMY announced the results of three clinical trials evaluating Opdivo for the treatment of multiple myeloma. These trials include Checkmate-602, Checkmate-039, and CA204142.

To divest company-specific risks, investors can consider ETFs like the iShares US Pharmaceuticals ETF (IHE), which invests 7.0% of its portfolio in Bristol-Myers Squibb (BMY). IHE also invests 5.7% in Allergan (AGN), 5.9% in Eli Lilly and Co. (LLY), and 2.7% in Mylan (MYL).

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