The FDA last week granted Merck's Keytruda a new approval for...

...hepatocellular carcinoma, a common form of liver cancer, which will place the drug in direct competition with Bristol-Meyers' Opdivo, which received the same approval – for patients who have already used Bayer's Nexavar – last fall. The competition may be stiff, as both Keytruda and Opdivo hold equal formulary status for 87% of covered lives. 14% of covered lives have preferred-tier access to both drugs.