Global pharma perseveres on cancer treatments despite setbacks, says Fitch

Development of cancer therapies remains a focus for many global pharmaceutical companies despite three recent late-stage trial shortfalls, according to a new special report by Fitch Ratings.

The report notes that Bristol-Myers Squibb's (NYSE: BMY) Opdivo (nivolumab), AstraZeneca's (LSE: AN) selumetinib and Eli Lilly's (NYSE: LLY) abemaciclib all failed to improve survival rates for various types of cancer in their original trials. However, all three are moving forward in clinical trials for other types of cancer.

"A greater understanding of how cancer avoids the body's immune system has equipped researchers with the ability to more precisely target cancer cells," said Bob Kirby, director, US Corporates at Fitch Ratings, adding: "The industry will continue to exploit this knowledge in developing new treatments and trying combination therapies."