Bristol-Myers Withdraws European Application for Lung Cancer Combo

Bristol-Myers Squibb (NYSE: BMY) announced on Friday afternoon that it has withdrawn its European application for the company's Opdivo/Yervoy lung cancer drug combo. The company had hoped that it could win approval in Europe to treat non-small-cell lung cancer as an initial, first-line treatment for patients. However, European regulators decided that they can't do a proper assessment due to the multiple changes in the design of the drug combo's clinical trial.