Bristol-Myers Squibb Beats Securities Suit on Cancer Drug Trial

Bristol-Myers Squibb Co. will escape a class action securities suit because the plaintiffs failed to show the pharmaceutical giant misled investors about the eligibility criteria for patients participating in a clinical trial for the cancer drug Opdivo, a federal court in New York said.

Opdivo was developed to treat non-small cell lung cancer by targeting the “checkpoint protein” PD-L1, which is expressed by cells in the body to prevent the immune system from attacking them, on cancerous cells. Generally, the greater the share of share of cancer cells expressing the protein, the more likely treatment with a checkpoint inhibitor will ...