The failure of inhibitors caused a huge impact. Four pharmaceutical companies intended to buy Bristol Myers Squibb

[China Pharmaceutical network enterprise news] since January 10, Bristol Myers Squibb has lost more than 15% of its stock, with a market value of about $50 billion Earlier this month, the company lowered its earnings forecast for 2017 Although rumors have been raging, Bristol Myers Squibb's board has not expressed its willingness to accept any offer The industry has been full of rumors that pharmaceutical giant Bristol Myers Squibb (BMY) will be acquired If this is true, there is a company with such strength but will not bid for it, that is PFE (the failure of the inhibitor has a huge impact on four pharmaceutical companies that intend to buy Bristol Myers Squibb photo source: Baidu photo) a blog on investment website Barron explains why Pfizer can't bid The blog quotes comments from Gregg Gilbert and Esther rajavel of Deutsche Bank in the Street insider, pointing out that Pfizer will not bid because such acquisition transactions "will be a huge opportunity / risk (market value $90 billion + premium) for the immune tumor department, the field is full of short-term uncertainty, and Pfizer has at least partial deployment in this regard." Two analysts said that if Pfizer is to invest heavily in such a large company, they would prefer to look for "more diversified value drivers" and "reasonable cost projects" Earlier this week, Biospace reported that at least four large cap companies, including Pfizer, were reportedly interested in acquiring Bristol Myers Squibb But if Pfizer is ruled out, three other companies, gild, NVS and rhhby, may bid Although the loss of market share is not small, Bristol Myers Squibb's asking price will be higher Analysts at Deutsche Bank suggest $90 million, but some predict it could sell for as much as $120 million According to a recent Bloomberg report, Bristol Myers Squibb has dropped from fourth place on the U.S valuable list to ninth This is largely because the failure of its main PD-1 inhibitor, opdivo, last year had a huge impact on the company In August 2016, the phase III clinical data released by Bristol Myers Squibb showed that opdivo failed to reach the trial point of progression free survival of lung cancer patients with PD-L1 expression This failure has created a great opportunity for keytruda, the PD-1 inhibitor of rival Merck, to seize market share Bristol Myers Squibb is worried that keytruda will be approved as a first-line treatment for lung cancer Due to Merck's success, Bristol Myers is not relying on the FDA's quick approval of the opdivo portfolio, but some analysts believe that this shows that there are problems with the data Not only does opdivo face the threat of keytruda competing for market share, but Roche's tecentriq took 10% of its market share from opdivo in the fourth quarter of 2016.