Growth portfolio now drives 60% of revenue as Eliquis surges 21%.
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Decisions are due by August 23 at the latest on therapies ranging from an mRNA flu vaccine to a gene therapy for a rare metabolic disorder, putting biotech investors on high alert.
Bristol-Myers stock extends gains on reports of a potential merger with AstraZeneca. But caution is warranted in chasing the momentum in BMY shares today.
Investors questioned whether combining AstraZeneca with Bristol Myers would strengthen growth enough to justify the financial and regulatory risks.
The UK drugmaker is reportedly talking to Bristol Myers Squibb about a nearly $400 billion tie-up, but investors are struggling to diagnose the logic.
A Mizuho healthcare analyst says merging two of pharma's biggest names could unlock a fortune, but the math only works if one brutal condition is met.
AstraZeneca Plc investors had a clear message for the UK drugmaker on Monday: they don't like the idea of a $400 billion merger with Bristol-Myers Squibb Co. Bloomberg Intelligence's Director of Research, Sam Fazeli joins to discuss.
The FTSE 100 index closed down 10.35 points, 0.1%, at 10,857.70.
One of the largest global pharma companies would be created if a deal were to materialise.
BMY surged roughly 6% in premarket trading on the news before fading; the stock is now trading near flat. The asymmetric price reaction captures the market's immediate verdict: AZN shareholders see a value-destructive deal, while BMY holders see a potential premium exit.
European stock markets closed mostly higher in Monday trading as the Stoxx Europe gained 0.4%, Germa
Medical sector earnings are off to a strong start, and four biotech companies are positioned to potentially beat estimates in upcoming quarterly results.
Bristol Myers Squibb stock is surging Monday following a report of a potential mega-merger with a competitor.
AstraZeneca stock took a nosedive Monday amid reports it's mulling a mega-merger with Bristol Myers Squibb.
Medicus Pharma (NASDAQ:MDCX) announced it has put its chief medical officer in charge of UK subsidiary Antev Limited, consolidating leadership of the Teverelix clinical programme ahead of regulatory, late-stage development and partnering work. Dr Faisal Mehmud will become Antev’s chief...
A combination of the two pharmaceutical companies could create an entity valued at nearly $400 billion, according to the Financial Times
Combined group would rank fourth by market value
News of the day for Monday, August 3
Bristol Myers Squibb (BMY) just gave investors a strong quarter and a bigger outlook. Morgan Stanley read the same report and kept its rating exactly where it was. (The source of much of this article is a Morgan Stanley report shared with me.) Morgan Stanley sees the stock falling to $40, well ...
AstraZeneca PLC (LSE:AZN, NASDAQ:AZN) shares fell 6% to 11,872p on Monday, the steepest decline in the FTSE 100, as analysts struggled to explain why Britain's largest drugmaker would want to buy Bristol-Myers Squibb Co (NYSE:BMY, XETRA:RM, OTC:BMYMP). Jefferies described the reported talks...
Find insight on AstraZeneca , Bristol Myers Squibb, Hartalega and more in the latest Market Talks covering health care.