Bris­tol-My­ers shrugs off an­oth­er Op­di­vo com­bo flop as $1.74B deal goes pfffft

Bris­tol-My­ers Squibb’s en­thu­si­asm for im­muno-on­col­o­gy was at fever pitch back in 2015, when it struck one of its clas­sic tie-ups with lit­tle Five Prime Ther­a­peu­tics for its colony-stim­u­lat­ing fac­tor 1 re­cep­tor drug. The Big Phar­ma gi­ant plunked down $350 mil­lion in cash and com­mit­ted it­self to $1.4 bil­lion in mile­stones as it laid out plans for 6 tu­mor type pro­grams in com­bo with Op­di­vo, its big new PD-1 break­through.

To­day, it’s an­oth­er I/O bust.

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