JPMorgan's Take On Big Pharma's New ASCO Abstracts

Abstracts for the ASCO 2016 meeting were released on Wednesday evening. With the event only a couple of weeks away, JPMorgan analyst Chris Schott took a look at what investors can expect from the ASCO presentations of four big-name pharma companies.

For Eli Lilly and Co LLY, ASCO will be all about single-agent data for Abemaciclib, which Schott sees as “clearly very active in breast cancer.” In addition, Schott is still awaiting combo data from MONARCH-2 and -3.

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For Bristol-Myers Squibb Co BMY, Schott was impressed by the two-year survival data for Opdivo in 2L NSCLC. The updated data in the new abstract shows an overall two-year survival rate of 29 percent in non-sq and 23 percent in sq-NSCLC, higher than the respective 16 and 8 percent Docetaxel survival rates.

When it comes to Pfizer Inc. PFE, the highlight of ASCO will be the confirmatory phase III data for Ibrance. The abstract indicates that Pfizer has repeated the efficacy of its phase II PALOMA-1 study, achieving a mPFS of 24.8m, an ORR of 42.1 percent and CBR of 84.9 percent.

Finally, Merck & Co., Inc. MRK reported some encouraging early-stage data on a Keytruda+ chemo study. The Keytruda combo study showed an uptick in ORR to 57 percent across a number of chemo regimes versus the 43 percent ORR reported last year.

JPMorgan has an Overweight rating on Bristol-Myers, Pfizer and Merck.

Disclosure: The author holds no position in the stocks mentioned.

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Posted In: Analyst ColorBiotechLong IdeasNewsEventsAnalyst RatingsTrading IdeasGeneralAbemaciclibASCO 2016Chris SchottDocetaxelibranceOpdivopharmapharmaceuticals
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