BMY - This Analyst Downgrades Bristol-Myers Squibb Cautions Amid Product Launch And Revenue Concerns | Benzinga

BofA Securities downgraded Bristol-Myers Squibb & Co (NYSE: BMY), noting that initially, the analyst believed that Bristol's loss of exclusivity (LOEs) for drugs like Eliquis and Opdivo was widely understood and it was anticipated that new product lineup would compensate for these losses and boost market value. 

However, the actual sales outcomes of recent product launches have been varied. 

Despite an overall growth of approximately 87% in 2022 and an estimated 81% in 2023 for the new product portfolio, there hasn't been any standout product that significantly increased sales projections.

The analyst downgraded BMY shares to Neutral from Buy and lowered the Full story available on Benzinga.com