Bristol-Myers Partner Ono Drops as Cancer Drug Data Disappoint
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Ono Pharmaceutical Co. shares dropped in Japan trading after its partner Bristol-Myers Squibb Co. released study results for its immune-based therapy Opdivo that fell short of already low expectations in a lung cancer trial that studied wider use of the drug.
The Osaka-based company dropped as much as 11 percent Tuesday, the most since August, before trading 8.6 percent lower at 9:34 a.m. local time. The Japanese stock market was closed Monday for a holiday.