On Monday, Bristol Myers Squibb & Co BMY agreed to acquire 2seventy bio, Inc. TSVT at $5.00 per share in an all-cash transaction for a total equity value of approximately $286 million, or $102 million net of estimated cash.
Bristol Myers Squibb will acquire 2seventy bio for about $286 million in cash, sending the cancer cell therapy maker's shares up 76% in premarket trading on Tuesday.
On Saturday, Bristol Myers Squibb & Co BMY revealed data from the pivotal Phase 3 POETYK PsA-2 trial (IM011-055) evaluating the efficacy and safety of Sotyktu (deucravacitinib) in adults with active psoriatic arthritis (PsA).
The last time the economy experienced two negative quarters of gross domestic product was the first and second quarters of 2022, with a 1.6% pullback in the first quarter and a 0.6% decline in the second.
Bristol Myers Squibb (BMY) concluded the recent trading session at $60.18, signifying a +0.6% move from its prior day's close.
Bristol-Myers Squibb Company (NYSE:BMY ) 45th Annual TD Cowen Health Care Conference March 4, 2025 2:30 PM ET Company Participants Adam Lenkowsky - Executive Vice President & Chief Commercial Officer Conference Call Participants Steve Scala - Cowen Steve Scala Well, good afternoon once again. Welcome to TD Cowen's 45th Annual Healthcare Conference.
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Zacks.com users have recently been watching Bristol Myers (BMY) quite a bit. Thus, it is worth knowing the facts that could determine the stock's prospects.
Healthcare is considered a defensive industry, since good medical care is needed regardless of economic or market conditions. Therefore many companies in this sector are somewhat insulated from the impact of economic downturns.
On Monday, the FDA accepted the supplemental biologics license application (sBLA) for Bristol Myers Squibb & Co's BMY Opdivo (nivolumab) plus Yervoy (ipilimumab) as a potential first-line treatment option for adult and pediatric patients (12 years and older) with unresectable or metastatic microsatellite instability-high (MSI-H) or mismatch repair deficient (dMMR) colorectal cancer (mCRC).
Bristol-Myers Squibb has shown exceptional success in addressing challenges directly related to the introduction of generic versions of Revlimid and Sprycel. So, the gem in its oncology franchise is Breyanzi, whose sales amounted to $263 million in the fourth quarter of 2024, an increase of 160.4% year-on-year. On the other hand, Camzyos is gradually becoming the flagship of Bristol-Myers Squibb's cardiovascular franchise.
Bristol Myers' lackluster guidance for 2025 warrants caution. We recommend investors to wait and watch for the time being as generic competition for legacy drugs is a major headwind.