Bristol-Myers Squibb is withdrawing its FDA application for a drug combination to treat advanced lung cancer. The pharmaceutical giant says it pulled its application to combine Opdivo and Yervoy after discussions with the FDA.
Bristol, which announced a $74 billion acquisition of cancer drug maker Celgene earlier this month, will still seek approval for the combination for use by lung cancer patients with a different biomarker. The company also had better than expected Q4 results of $0.94 per share, nine cents above the Street's expectations. Revenue was $5.97 billion, in-line with estimates.