Shares of Ono Pharmaceutical Co on record high for Noble Prize winning method to fight cancer

The game changing method founded by researchers Tasuku Honjo and James Allison was used to create the drug Opdivo which was co-developed by Ono Pharmaceutical Co and Bristol-Myers Squibb Co.

On Tuesday, shares of Japanese drugmaker Ono Pharmaceutical Co touched a record high of 3,430 yen – its highest level since August 2016, following one of its researchers winning the Nobel Prize for ways to better fight cancer. The method is used in Opdivo, a drug it co-developed with Bristol-Myers Squibb Co.

With the news reaching the market, its shares soared by 6.9% in early morning trade on Tuesday.

On Monday, Japan’s Tasuku Honjo and the United States’ James Allison won the 2018 Nobel Prize for Physiology or Medicine for their game-changing discoveries about how to harness and manipulate the immune system to better fight cancer.

The work in the 1990s have rapidly led to dramatically improvements in cancers therapies including melanoma and lung cancer.

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Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

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