Long af­ter Mer­ck and Bris­tol My­ers cre­at­ed a multi­bil­lion-dol­lar mar­ket, the PD-1 lead­ers are once again duk­ing it out — this time over a $12B-plus pot

Six years af­ter Mer­ck and Bris­tol My­ers Squibb cap­tured the at­ten­tion of the on­col­o­gy world with the first ap­proval of their PD-1 drugs Keytru­da and Op­di­vo, sales rev­enue has start­ed to lev­el off af­ter a host of ri­vals joined the hunt for new OKs for metasta­t­ic con­di­tions, where the FDA has proven quick to act.

But a key an­a­lyst cov­er­ing bio­phar­ma be­lieves that there’s a vast, still large­ly un­tapped fron­tier for new ap­provals to come in the ad­ju­vant set­ting that could once again ig­nite the growth of these lead­ing can­cer fran­chis­es. And once again, he’s point­ing to the 2 lead­ers in the field as the most like­ly play­ers to come out ahead — way, way ahead.

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