The recent series of press mentions for Bristol-Myers Squibb (BMY) is dominated by two major events. The FDA approval of Cobenfy, a novel schizophrenia treatment, appears prominently. Cobenfy's approval, the first of its kind in decades, sets BMY apart in the biotech industry. It's seen as a value-adding venture that could push the company's stock price up by 20%. BMY's efforts in funding cancer research also receive attention, with employees biking 3,000 miles across the U.S. for fundraising. On the financial side, strong Q2 earnings beat expectations, boosted by rising drug sales. Guidance has also risen, while it has launched a $1.5 billion cost-cutting initiative. Despite this, BMY stock has seen ups and downs in recent times. Some analysts recommend buying at the current rate, while, others advise a wait-and-see approach.
Bristol-Myers Squibb BMY News Analytics from Tue, 09 Apr 2024 07:00:00 GMT to Sun, 29 Sep 2024 08:42:29 GMT - Rating 7 - Innovation 5 - Information 7 - Rumor -2
