The pharmaceutical giant Bristol-Myers Squibb has been in a period of turbulence according to a roundup of recent news. BMS had a setback in its late-stage melanoma trial for Opdualag, a key drug candidate. Failing to meet targets in the expansion bid, the move may impact Bristol-Myers' future growth trajectory. Renowned television investor, Jim Cramer advised against holding the company's stock due to these issues. Furthermore, the firm reported intending to make $2 billion in cost cuts by the year 2027, a move related to its weak growth guidance. An impairment charge of $1.4 billion was also reported for Augtyro due to a shifting commercial landscape. On the positive side, the U.S. Food and Drug Administration approved its innovative schizophrenia treatment, COBENFY, which is claimed to be a first-in-class Muscarinic Agonist. Despite these breakthroughs, shareholders have experienced a 7.2% loss with the stock dropping by 5.4% over the past week. However, despite being under a restructuring process, BMS is still optimistic about future plans, looking forward to more advancements, particularly in lymphoma treatment, melanoma management and Alzheimer's R&D.
Bristol-Myers Squibb News Analytics from Wed, 22 May 2024 07:00:00 GMT to Sat, 15 Feb 2025 12:39:26 GMT - Rating -5 - Innovation 3 - Information 5 - Rumor 2
