Appeals court sides with Bristol Myers Squibb in years-long battle with investors over Opdivo fail
Bristol Myers Squibb’s years-long court battle with investors over a failed Opdivo study is coming to a close. Second Circuit judges sided with the pharma giant on Friday, affirming a federal court’s decision to dismiss a case surrounding a lung cancer trial for the blockbuster PD-1 checkpoint inhibitor.
Opdivo, also known as nivolumab, won its first approval back in 2014 for advanced melanoma, and has since tacked on a lengthy list of cancer indications. But this particular case traces back to a disappointing 2016 readout in non-small cell lung cancer, which shed roughly $20 billion off the company’s market cap in pre-market trading.
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