How can BMY lose $25b in market cap because of a failed clinical trial of a drug that does only $550 million by its chief competitor Merck?
I can’t even begin to rationalize this drop in a mega cap super star company, the crown jewel of Princeton, NJ.
Opdivo has become a foundational treatment that is transforming cancer care across multiple tumor types. While we are disappointed CheckMate -026 did not meet its primary endpoint in this broad patient population, we remain committed to improving patient outcomes through our comprehensive development program, including the ongoing Phase 3 CheckMate -227 study exploring the potential of the combination of Opdivo plus Yervoy for PD-L1 positive patients, and Opdivo plus Yervoy, or Opdivo plus chemotherapy in PD-L1 negative patients.”
I hear they’re working on chimeras in that sprawling prime real estate in Princeton. Seriously, this 18% drop seems a bit excessive. Then again, we’re an excessive people.
MRK is benefitting from BMY’s demise, which is doubly absurd.
I think the impact was so big because estimated peak revenue for the drug, which was considered an almost sure thing, was around $15 billion.
i read something about $8 billion a year. who knows though.
BMY $65 puts are up 21,000% if you gambled.
As an aside, my mom is on this drug for stage 4 melanoma. When she hit stage 4 they put her on Keytruda and for like 6 months it didn’t work. Finally, when she was end stage, they switched her to Yervoy which is a BMY drug. We also tried an alternative supplement called IP6+inositol at high dose as a last ditch effort. Something about that supplement and the immuno drugs worked. Her tumor went from melon size to pea size in just a couple of weeks. In case someone is battling the C, we think that supplement, at high dose, helped. Obviously, the immuno drugs help too.
t.c. You, your mother and your family have been going through a lot. Your comment has me reflecting on that journey and it provides perspective. Your family is fortunate to have access to this care and each other.
Many people die alone without treatment that could have saved or extended their lives.
My best to you on whatever challenge you are facing. We are certainly fortunate to have this care and to have enough committed family to support each other. If you are fighting for your life, keep going and trying. Above all trust God to get you out of this mess or to take you home. In His hands you’re always in good hands.
https://www.youtube.com/watch?v=SD5LYJ3us0U