Bris­tol-My­ers takes an­oth­er hit on Op­di­vo/Yer­voy com­bo as CHMP turns thumbs down on front­line kid­ney can­cer

Bris­tol-My­ers Squibb $BMY con­tin­ues to run in­to some stiff head­winds with its com­bi­na­tion of Op­di­vo and Yer­voy.

Dur­ing their quar­ter­ly call with an­a­lysts Thurs­day, the top ex­ec­u­tive crew re­vealed that the EMA’s Com­mit­tee for Med­i­c­i­nal Prod­ucts for Hu­man Use in Eu­rope had set­tled on a neg­a­tive opin­ion for the front­line use of the com­bi­na­tion for kid­ney can­cer. And that took a bite out of the com­pa­ny’s stock, while ding­ing their rep on I/O as Mer­ck con­tin­ues to chew up mar­ket ter­rain on its way to fron­trun­ner sta­tus.

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