Positive times for Bristol-Myers Squibb

Bristol-Myers Squibb is experiencing an extremely positive phase, and investors share this view: indeed, BMS’ shares have risen over 17% in the last three months and capitalization is now $106bn, with a P/E ratio of 23. Most of the credit for this is due to blockbuster Opdivo (nivolumab), which last year delivered $3.77bn and has potential to total approximately $5bn this year. After BMS interrupted the trial for immunotherapy Opdivo, due to the drug early meeting the set endpoints (soon published), the drug is expected to receive the green light by FDA for accelerated assessment as a treatment for patients with melanoma who are at high risk of disease recurrence following complete surgical resection. This probable decision reflects positive results from the Checkmate-238 clinical trial, which compared Opdivo to Yervoy.