Bristol-Myers Squibb (NYSE: BMY) this afternoon revealed yet another setback for its cancer immunotherapy nivolumab (Opdivo) in lung cancer, boosting the outlook for rival Merck.

The New York pharma giant said that a regimen of nivolumab (Opdivo) and chemotherapy failed to extend the lives of non-squamous, non-small cell lung cancer patients compared to chemo alone in a Phase 3 study.

Specifically, newly diagnosed, advanced NSCLC patients on nivo-chemo survived for a median of 18.83 months, while patients on chemo alone survived for a median of 15.57 months. The risk of disease worsening or death was just 14 percent less for… Read more »