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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