Bristol-Myers Squibb Co. (BMY)

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The Company, through its divisions and subsidiaries, is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceuticals and other health care related products.

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Avatar NetscribePhrmtcl (98.12) Submitted: 11/28/06 7:38 AM : Start Price: $22.62 BMY Score: 11.45

Blockbuster Plavix breathes a sigh of relief! Bristol-Myers Squibb is engaged in the discovery, development, licensing, and marketing of pharmaceutical and other health care products in the United States and other countries across the world.

Plavix is a medication for cardiovascular diseases, which is the leading cause of death in the U.S. as nearly 2,500 Americans die of cardiovascular diseases each day. Plavix was experiencing declining revenues in the recent quarters due to the launch of the generic version of Plavix by Apotex, which affected the company’s performance in the third quarter. However, the court’s recent ruling to block the generic version of Plavix has come as a huge reprieve for the company.

Bristol-Myers Squibb has a pipeline concentrated on drugs for oncology, which is expected to grow at a CAGR (compounded annual growth rate) of over 12%, thereby, driving the market to U.S. $30 billion by 2010.

With cancer being the second largest cause of death with more than 550,000 deaths and 1.4 million new cases diagnosed in the U.S. each year, the company launched SPRYCEL in July 2006. The response toward SPRYCEL has been encouraging. Moreover, considering the strong growth in drugs like AVAPRO, ABILIFY, REYATAZ, and ERBITUX, along with longer patent protection, it is believed that these drugs are all set to replace Pravachol’s revenue, which has gone generic in 2006.

The slowdown in revenues may continue in 2006. This is primarily due to the generic version of Plavix that is already in the market and cannot be called back according to the court’s ruling. However, it is believed that the strong growth of Plavix along with other major potential blockbuster drugs, and an impressive pipeline and ageing population will be the driving factors for the company in 2007.

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Avatar NetscribePhrmtcl (98.12) Submitted: 4/16/07 2:51 AM

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The biggest significant event on the horizon for Bristol-Myers Squibb (Bristol) is the outcome of the ongoing Plavix litigation trial, the aptly positive outcome of which is expected much later in 2007. Bristol and Sanofi-Aventis are expected to prevail, protecting Plavix exclusivity into 2011. Plavix, the second largest pharmaceutical product in the world, accounts for an estimated 35% of the Bristol bottom-line. Although a highly implausible event, the loss of Plavix exclusivity would be devastating.

Key product events include, a licensing agreement with Otsuka in late Dec 2006 to develop and market Saxagliptin in Japan, while receiving sales-based payments; partnership agreement with AstraZeneca in Jan 2007 to develop and commercialize two BMS diabetes treatments, Saxagliptin and Dapagliflozin; and collaboration with biotechnology company Adnexus in Feb 2007 to discover, develop, and commercialize cancer treatments. Sprycel received final European approval to treat patients with chronic myeloid leukemia (CML) who are resistant to other treatments.

The company's R&D efforts are focused in five key treatment areas: CV/metabolics, oncology, neuroscience, immunoscience, and virology. Late-stage product candidates include Ixabepilone (a cytotoxic for breast cancer); Saxagliptin (for diabetes), in Phase III trials; the oncology agents Vinflunine and Ipilimumab, with possible submission in late 2007-2008; Apixaban, a factor Xa anti-thrombotic agent, in Phase III development; and Belatacept, with submissions possible in 2008.

Bristol announced that it expects its 2007 EPS from continuing operations on a GAAP basis to be between $1.20 and $1.30 with a long-term growth estimate of 8%-10%. The shares are expected to rally as investors become comfortable with Plavix returning to growth and Bristol’s pipeline starting to deliver results.

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Avatar balilight (56.16) Submitted: 11/08/07 1:24 PM

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No race horse here but a quarterly dividend yeild of 3.9% makes it much more comfortable riding out the inevitable dips in price as BMY chugs ahead.

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Bristol-Myers Squibb Co. (BMY)

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