Recent data suggests that Bristol-Myers Squibb (BMY) has yielded a mixed performance in the stock market, reportedly dipping while the broader market improves, though has also been noted to surpass market returns. Despite a general downturn, BMY has unveiled a $1.5 billion cost-saving plan and remains popular with institutional investors who own approximately 77% of the company. Performance is buoyed by several positive earning reports which have consistently beaten expectations and primarily supported by sales of new drugs. BMY's quarterly results were sufficiently impressive for the company to boost its outlook.
The pharmaceutical giant is also making strides in the health sector, presenting long-term efficacy data on its multiple sclerosis drug, Zeposia, and awaiting FDA approval on its schizophrenia treatment, KarXT, - anticipated to be the first new type of treatment in 70 years. However, BMY terminated its cancer drug development program with Agenus. Regardless, the company has reiterated its commitment to health equity, supporting access plans for all marketed products.
Bristol-Myers Squibb BMY News Analytics from Fri, 02 Feb 2024 08:00:00 GMT to Sun, 22 Sep 2024 08:41:33 GMT - Rating 2 - Innovation 5 - Information 6 - Rumor -2
