Bristol-Myers Falls as It Cites Drug-Trial Questions
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Bristol-Myers Squibb Co. plunged the most in 17 months after the drugmaker said it wasn’t ready to move ahead with a study of a combination cancer treatment that includes the company’s top prospect.
Bristol-Myers fell 5.6 percent to $50.94 at 4 p.m. New York time, the biggest one-day drop since August 2012. Investors had been intently watching whether the company would move forward with a final stage trial in lung cancer of the experimental medicine nivolumab and Yervoy, a drug already on the market.