Novartis/BeiGene Likely To Struggle In Crowded PD-1 Space Despite Positive First-Line Data

Novartis AG and BeiGene, Ltd. have positive Phase III results for the PD-1 inhibitor tislelizumab in first-line esophageal cancer that come as the US Food and Drug Administration action date for the drug in second-line disease approaches. While the agency’s nod would mark a significant milestone, making tislelizumab the first Chinese-developed checkpoint inhibitor to receive FDA approval, the drug could struggle in a crowded US market, including in the first-line setting.

Tislelizumab will also be Novartis' first checkpoint inhibitor. Even though Novartis has been an industry leader in oncology, the company missed out on the initial PD-1 development race, investing more...