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Bristol-Myers Squibb investors hope that a showdown involving new lung cancer studies on Monday will give the stock a long-awaited boost.
The shares have languished ahead of the upcoming American Association for Cancer Research’s annual meeting in Chicago, as Wall Street awaits the lung cancer clash between Bristol-Myers and rival Merck & Co.
Bristol-Myers could rise as much as 8% if it can show a response rate that is 10% to 15% better than Merck’s product, according to Credit Suisse analyst Vamil Divan. Disappointing results combined with strong Merck data could send Bristol-Myers down as much as 6%, Divan said.
BMO Capital Markets analyst Alex Arfaei expects that the Bristol-Myers data will be disappointing. The drug maker is focusing on a narrower group of patients that would require doctors to conduct additional screening that isn’t currently driving their decision-making.
Merck’s patient group is broader, plus the drug maker is already in the lead in lung cancer. A successful ...
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