GLP-1 agonists may have taken up most of the attention when it comes to game-changing drugs in the last couple of years, but the oncology landscape is heating up as well, and investors may see a transformation for some long-standing firms in the space. Bristol-Myers Squibb (NYSE: BMY) recently announced that its investigational drug candidate iza-brentuximab (Iza-bren) demonstrated a reduction in the risk of progression or death in a breast cancer trial.
The Phase 3 trial data comes at a crucial time for the firm as it faces the ongoing threats of a major patent cliff for its popular blood cancer drug Revlimid. At its peak, this drug commanded annual sales of nearly $13 billion, but that was in 2021, and generic competition has eroded those sales in the years since. Given that breast cancer is the largest oncology indication across the country, any drug that can meaningfully boost progression-free survival has the potential to become another multi-billion-dollar venture.
