Merck Cements Lead in Lung Cancer With Bristol-Myers Fizzling
- Bristol-Myers drops 8.5 percent, most in more than a year
- ‘This debate seems to be over,’ one analyst says after results
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Merck & Co. is cementing its lead in the race to dominate the market for a new generation of lung cancer drugs, fending off rival Bristol-Myers Squibb Co. after new data that could reshape treatment of the disease, by far the deadliest form of cancer in the U.S.
Both companies released highly anticipated studies on Monday, testing their products in patients who have been newly diagnosed. Merck’s drug, Keytruda, showed “practice-changing” results when used with chemotherapy. While Bristol-Myers’s drug combination also met its goal for some patients, the company still hasn’t shown that the therapy extends patients’ lives -- the gold standard for doctors who will pick between the treatments.