uploads///Chart  Opdivo

Bristol-Myers Squibb’s 2Q17 Earnings: Opdivo

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Jul. 31 2017, Updated 5:05 p.m. ET

Opdivo

Bristol-Myers Squibb’s (BMY) blockbuster drug Opdivo is used for the treatment of melanoma, non-small cell lung cancer, renal cell carcinoma, squamous cell carcinoma of the head and neck, classical Hodgkin’s lymphoma, and urothelial carcinoma.

Opdivo reported revenue of $1.2 billion in 2Q17, a 42% rise compared to $840 million in 2Q16.

The above chart shows Opdivo’s revenues over the last few quarters. In 2Q17, Opdivo was BMY’s largest revenue-contributing drug, followed by Eliquis, and it’s expected to continue to be one of the company’s major revenue contributors in the coming years.

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Recent Opdivo developments

Recent developments for the drug Opdivo include the following:

  • On July 24, 2017, the FDA accepted a supplemental biologics application for updating the dosing of Opdivo 480mg to be infused over 30 minutes every four weeks for all approved monotherapy indications.
  • On July 10, 2017, Bristol-Myers Squibb and Exelixis (EXEL) initiated Checkmate 9ER, a Phase 3 trial to evaluate Opdivo in combination with Cabometyx tablets, and an Opdivo-Yervoy combination with Cabometyx tablets in patients with previously untreated renal cell carcinoma.
  • On July 5, 2017, Bristol-Myers Squibb announced that the Checkmate-238 study, a Phase 3 study evaluating Opdivo 3mg/kg and Yervoy 10mg/kg for the treatment of patients with either Stage IIIb/c or Stage IV melanoma and patients who were at a high risk of recurrence, had met its primary endpoints. According to the study, Opdivo had a superior recurrence-free survival rate compared to Yervoy.

To divest company-specific risks, investors can consider ETFs such as the VanEck Vectors Pharmaceutical ETF (PPH), which holds 4.7% of its total assets in Bristol-Myers Squibb. PPH also holds 6.6% of its total assets in Novartis AG (NVS), 4.9% in Sanofi (SNY), and 4.6% Eli Lilly and Company (LLY).

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