Bristol-Myers Squibb Co.’s former chief scientific officer and EVP, Francis Cuss, MD, was cursed by good luck. In 2015, BMS won the first-ever approval for an immuno-oncology (IO) agent to treat a form of lung cancer. The PD-L1 checkpoint inhibitor Opdivo (nivolumab) swiftly became a blockbuster as a treatment for squamous cell non-small cell lung cancer (NSCLC) as a second-line therapy. In short order, BMS gained 10 more approvals for the drug. But all eyes were on CheckMate-026, the late-stage test of Opdivo as a first-line NSCLC treatment, by far the largest unmet need in any cancer. Before study data came out last summer, some even used the “cure” word. Based on projected peak sales of the drug approaching $14 billion annually, BMS’ valuation soared.
But it was not to be – at least not yet – and it wasn’t long before Cuss left after...