That's "at this moment" point of view. The problem with BMY as many had pointed out already was that expectation was too high by thinking immuno-oncology would be smooth sailing once you had all these drug candidates, but forgot ticking with immune system is complex, will have many unintended consequences. Because BMY was leading, naturally would encounter issues first while followers would observe and learn from mistakes. They too would encounter problems at some point. It is just matter of time. The race is wide open, no one knows who is going to win for sure - people simply have been too quick in declaring winners, ther might never be a true winner- to say otherwise is dishonest. The new darling AZN can't possibly meet expectation it sets itself up at this moment - this comes from someone who thought AZN had very interesting immuno-oncology assets well before PFE bid. Once high expectation gets out of BMY, it would become interesting again, at least to me.
By the way, I don't think BMY is clinging to ipi, rather because it has an approved drug, might have been reluctant to alter dosing radically when combined with a better drug in PD1. It works ok for some indications, problematic for others. It is understandable. For those who didn't have an approved drug, they might be more willing to try different dosing regimens, for example, INCY's IDO, AZN's PDL1 and CTLA combo.
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