Replies to post #203216 on Biotech Values

[DewDiligence]

Disclosure: I sold a smallish position in MRK yesterday in a family account.

[dewophile]

All told, in due course I foresee Opdivo and Keytruda dividing the NSCLC market roughly evenly rather than the lopsided win for Keytruda that some investors and analysts are now predicting

I think the details of the respective studies stand to be market moving potentially. I think most of us just assume all the PD-(L)1 drugs are the same, but the fact is there are probably differences. If the data are the same for high expressions as expected, then obviously this gives BMY life in first line NSCLC as you state. There is some small possibility of differences in the data even at comparable expression levels of PD-L1 since these are not identical drugs (although i admit the data so far seems to support the fact that there are more similarities than differences)

[DewDiligence]

MRK’s CEO—(and EVP)—sold $24.5M of stock since Opdivo news on 8/5/16:

https://www.sec.gov/Archives/edgar/data/310158/000122520816037553/xslF345X03/doc4.xml
https://www.sec.gov/Archives/edgar/data/310158/000122520816037707/xslF345X03/doc4.xml