European Medicines Agency's CHMP Backs Approval Of Cabometyx/Opdivo Combo In Kidney Cancer

by Vandana Singh, Benzinga Editor

February 26, 2021 12:55 PM | 1 min read | Make a Comment

European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) issued a positive opinion recommending approval of Exelixis Inc's (NASDAQ: EXEL) Cabometyx (cabozantinib) in combination with Bristol-Myers Squibb Co's (NYSE: BMY) Opdivo (nivolumab) for advanced renal cell carcinoma.
Exelixis' partner Ipsen Pharma has exclusive rights to commercialize and develop Cabometyx outside of the U.S. and Japan.
The positive opinion follows FDA approval for Cabometyx plus Opdivo as a first-line treatment of advanced renal cell carcinoma.
Price Action: EXEL shares are 0.05% higher at $21.97, while BMY shares are down 0.2% at $61.9 on the last check Friday.