Bristol-Myers gains early FDA approval for expanded lung cancer use of Opdivo

The US Food and Drug Administration on Friday granted approved for pharma major Bristol-Myers Squibb’s (NYSE: BMY) Opdivo (nivolumab) injection, for intravenous use, for the treatment of patients with metastatic non-small cell lung cancer (NSCLC) with progression on or after platinum-based chemotherapy.

The additional approval of Opdivo, which is expected to generate peal annual sales of as much as $5 billion, comes almost three months ahead of the FDA’s anticipated deadline, boosting Bristol-Myers stock, which closed up 1.55% at 61.45 on Friday.

“Improving survival for cancer patients represents the ultimate goal of treatment,” said Murdo Gordon, senior vice president and head of worldwide markets, Bristol-Myers Squibb. “With today’s FDA approval, it is encouraging to know that Opdivo will be available to significantly more patients with metastatic NSCLC, helping to improve treatment outcomes for patients who have been previously treated. We hope that our efforts to bring innovative Immuno-Oncology treatments forward for patients will help increase survivorship and positively impact the lung cancer community,” he added.