Drug treatments from
Bristol-Myers Squibb (BMY) and
Merck (MRK) designed to battle lung cancer both topped expectations in recent tests, the companies said Monday, but Bristol shares plunged after Merck's combination proved to be stronger.X
Both firms tested drugs that harness a patient's immune system to fight cancer. Their regimens were studied in patients with a common form of advanced lung cancer. These patients had never been treated, and their cancer had spread.
A regimen of Bristol's immuno-oncology drugs Opdivo and Yervoy cut the risk of cancer progression or death by 42% compared with chemotherapy. Merck's regimen, however, used a combination of Keytruda with chemotherapy, which reduced the risk of death by 51%.
On the stock market today, Bristol tanked 7.8% to close at 54.08. Merck, on the other hand, lifted 2.6% to 58.65. Both companies unveiled their results during the American Association for Cancer Research annual meeting in Chicago.
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Source : https://www.investors.com/news/technology/bristol-merck-lung-cancer-immuno-oncology/254