LOS ANGELES — There’s an overabundance of copycat drugs in the cancer immunotherapy space, with companies pouring millions into developing drugs that add only incremental value to patients.

That was the general consensus from a panel of biotech experts who spoke here Monday at the Milken Institute Global Conference — a commingling of Wall Street titans, policy wonks, industry leaders, and Hollywood elites. While excitement around harnessing the immune system to attack cancer is justifiable, they said, the way in which company resources are allocated in the immunotherapy space is skewed.

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