Bristol-Myers Hits 14-Year High as Cancer Drug’s Use Expands
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Bristol-Myers Squibb Co. shares hit a 14-year high after the company won expanded U.S. approval for its drug Opdivo to treat lung cancer, more than three months ahead of schedule.
The Food and Drug Administration approved Opdivo for patients with advanced squamous non-small-cell lung cancer whose disease progressed during or after trying chemotherapy, the agency said Wednesday in a statement. The decision came just weeks after clinical-trial results became available.