There's a reason immuno-oncology is among the hottest fields in biopharma today--and that's the $20 billion or so in 2022 sales that many analysts estimate. No wonder Bristol-Myers Squibb ($BMY), Merck ($MRK), AstraZeneca ($AZN) and Roche ($RHHBY) are speeding ahead with their research in the field, with Sanofi ($SNY), Novartis ($NVS) and Pfizer ($PFE) racing to catch up.
But according to Morningstar, those sales estimates are low--way low.
In fact, according to a new report from the investment firm, the market for PD-1 and PD-L1 drugs is billions of dollars richer than many analysts believe. That's good news for every drugmaker in the field. But the best news from Morningstar comes for Bristol-Myers. More