Immuno-Oncology Drugs Post Strong Data at ASCO, Supporting Our 2021 $28 Billion Sales Estimate
At ASCO, strong immuno-oncology data continues to support our 2021 $28 billion sales estimate for the drugs, above the $22 billion consensus estimate. We view Bristol-Myers Squibb and Roche as the best investment opportunities in IO; we view these companies as well as Merck and AstraZeneca as strengthening their wide moats based on excellent efficacy of IO drugs combined with strong pricing power.Solid IO drug efficacy in several cancers, including gastric (Merck’s Keynote-059), triple negativ...
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