Bristol-Myers' results fail to shake off Mystic trial's knock-on effect

27 July 2017

So far as investors are concerned, news from across the Atlantic has overshadowed a set of quarterly financial results from US pharma major Bristol-Myers Squibb (NYSE: BMY) that met or beat analyst expectations.

The company’s share price has taken a hit – showing a 3% drop to $54.26 by early afternoon on Thursday – because of the knock-on effect of AngloSwedish pharma AstraZeneca’s (LSE: AZN) disappointing results in its Mystic lung cancer trial of the PD-1/L1-plus-CTLA4 combination of Imfinzi (durvalumab) and tremelimumab.

This is bad news for B-MS because it too has invested in researching combinations of PD-1/L1-plus-CTLA4 in cancer, through its Opdivo (nivolumab) and Yervoy (ipilimumab) cocktail.

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