2024-04-30 05:29:18 ET
Summary
- Bristol Myers Squibb faces challenges due to the loss of exclusivity of its top-selling drug Revlimid, upcoming loss of exclusivity, and a large net debt load.
- The company made several acquisitions to offset pipeline flaws, but its midterm outlook is disappointing.
- After a softer first quarter, which was largely driven by one-time items, investors have to swallow another disappointment.
Early in February, I believed that all focus should be on execution in the case of Bristol Myers Squibb ( BMY ) . The company was pursuing an aggressive M&A strategy in order to address growth challenges and loss of exclusivity of top-selling drug Revlimid ahead of more key expirations due....
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Bristol Myers Squibb: Tough Times Continue