Bristol-Myers Squibb Co. overshadowed its fourth quarter and full year 2017 results by previewing the long-awaited results of the CheckMate 227 study of its Opdivo/Yervoy combination in first-line lung cancer. But questions about the chances for approval on these early results may mean BMS waits until late this year or early 2019 for the overall survival data, leaving Merck & Co. Inc. an even larger window to stake its claim in the largest market for immuno-oncology.
The ongoing Phase III CheckMate 227 study showed that Bristol's PD-1 inhibitor Opdivo (nivolumab) and CTLA-4 inhibitor Yervoy (ipilimumab) demonstrated...