UPDATE 1-Bristol-Myers pulls U.S. application for combo lung cancer treatment - Reuters
(Recasts first paragraph, adds background, updates stock price) By Michael Erman NEW YORK, Jan 24 (Reuters) - Bristol-Myers Squibb Co said on Thursday it pulled an application seeking U.S. approval for a combination of its drugs to treat lung cancer, even as it announced better-than-expected fourth-quarter earnings on strong sales of one of those medicines, the immunotherapy Opdivo. The drugmaker, which announced a planned $74 billion acquisition of biotech Celgene Corp earlier this month, said it withdrew the U.S. application for the combination of Opdivo and its older immunotherapy Yervoy as an initial, or first-line, treatment for advanced lung cancer. Bristol said it needs to collect more data on the benefits of the combination to patients whose cancer cells have a biomarker called tumor mutational burden (TMB) above a certain level. It made the decision after discussions with the U.S. Food and Drug Administration. The company’s shares were flat at $49.96 midday trading. Analy...