Japan's Ono Pharma hits over 1-mth low after cancer drug Opdivo fails trial study

ONO PHARMACEUTICAL

15/10/2018 05:41

** Shares of Ono Pharmaceutical Co Ltd  4528.T  fall as much
as 2.7 pct to 2,849.5 yen, their lowest level since Sept. 12 
    ** The drugmaker's potential blockbuster cancer drug Opdivo,
which was developed with Bristol-Myers Squibb  BMY.N , fails in
late-stage trial for lung cancer  urn:newsml:reuters.com:*:nNDL7lnXXm    
    ** Opdivo fails to extend survival in patients suffering
from small cell lung cancer, an aggressive form of the disease,
when compared to patients already on chemotherapy - Ono
    ** Opdivo had already been approved to treat several forms
of cancer, including skin and lung cancer
    ** Ono's shares had risen to a 2-year high earlier this
month after a Nobel Prize was awarded to researchers of Opdivo.
    ** Stock up 11.54 pct this year as of last close
    ** Of the 14 analysts covering the stock, eight have a
"strong buy" or "buy" rating and six have a "hold" rating; 
analyst mean price target is 3,290 yen  ($29.36)


($1 = 112.0500 yen)

 (Reporting by Takashi Umekawa)
 ((takashi.umekawa@thomsonreuters.com; 03-6441-1859; Reuters
Messaging: takashi.umekawa.reuters.com＠reuters.net))