Morningstar Rating

Stock Research and Analysis

by Damien Conover, CFA

Bulls Say

Bristol's growth prospects increase significantly in 2016 when the company passes the majority of patent losses and pipeline products begin to launch.
The key late-stage drug nivolumab holds the potential to radically shift the treatment paradigm in several cancer indications, which should result in peak sales of more than $8 billion annually.
More than half of Bristol's late-stage pipeline focuses on immunology and cancer--indications where the FDA aggressively approves drugs. These drugs also carry strong pricing power. Read more 

Bears Say

Major patent losses will plague the company until 2016, creating a drag on overall growth.
We believe a large portion of Bristol's current valuation is tied to cancer drug nivolumab, which could have an amplified negative impact on the stock if clinical data are poor.
Bristol carries a high price/earnings multiple compared with its peer group, despite the company's significant upcoming patent losses. Read more 

Management

In early 2010, Lamberto Andreotti and Charles Bancroft took over Bristol's top posts, replacing James Cornelius as CEO and Jean-Marc Huet as CFO, respectively. While these appointments didn't signify a major shift in Bristol's strategy, the new leaders   Read more 

Profile

Bristol-Myers Squibb discovers, develops, and markets pharmaceuticals for various indications, such as cardiovascular and infectious diseases, cancer, and immune disorders.  Read more 

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