Bristol Myers Squibb Co. is experiencing both highs and lows in the market. Despite recent underperformance, its stock saw an uptick but has yet to rebound to its 2022 highs. While some investments are being made in the company by firms like Janney Montgomery Scott LLC, it reached a new 1-year low at $39.38. Bristol Myers is also in the news for its involvement in health and educational initiatives, with plans to fund research and work to address health inequities in low and middle-income countries. However, negative developments such as the termination of the ADC development deal with Eisai and plans to cut 6% of workforce are notable. Their earnings projections for Q1 2024 are falling, and the stock price is trending down. On the bright side, Breyanzi, a product by Bristol Myers, has received FDA approval and shown promising results in clinical trials. Bristol Myers Squibb has also made aggressive M&A moves by acquiring RayzeBio and Karuna Therapeutics and signing a deal to develop Repertoire Immune Medicines. It expects to launch 16 new products by 2030. In other developments, BMS fights against challenges to negotiate drug prices, supports diversity in clinical trials and STEM education, and has to settle a $2.7 million anti-competition charge in Israel.
Bristol-Myers Squibb News Analytics from Wed, 20 Dec 2023 08:00:00 GMT to Sun, 07 Jul 2024 14:59:22 GMT -
Rating -3
- Innovation 6
- Information 8
- Rumor -4
