As analyst Andrew Baum writes: We have increased our forecasts by up to 27% following an in depth analysis of the opportunities for BMY's immunotherapy portfolio outlined in our companion report…While we are unable to predict the dominant indications or even combinations for BMY's checkpoint portfolio, we are confident that the portfolio in aggregate will likely exceed $10bn in 2022. We anticipate BMY to grow revenues at 10% CAGR between 2014 and 2019, with EPS growth at 17% CAGR over the same period aided by a mix driven increase in contribution margins. Further out, we have extended the anticipated introduction of generic competition for Eliquis unto 2026 (compared with 2023 previously). We note the acceptance of SPC ( Supplementary Protection Certificate) in the EU extending patent protection until 2026 and we assume BMY is seeking a patent term extension in the US to the same time period… Among global multinationals, BMS appears most closely aligned with our "Shrink, Smarten and Spin" industry framework given its well entrenched search and development strategy and historically strong execution track record 
Share:  <span class="sent">As analyst <span class="analyst">Andrew Baum</span> writes: We have increased our forecasts by up to 27% following an in depth analysis of the opportunities for <span class="company">BMY</span>'s immunotherapy portfolio outlined in our companion report…While we are unable to predict the dominant indications or even combinations for <span class="company">BMY</span>'s checkpoint portfolio, we are confident that the portfolio in aggregate will likely exceed $10bn in 2022.</span> We anticipate <span class="company">BMY</span> to grow revenues at 10% CAGR between 2014 and 2019, with EPS growth at 17% CAGR over the same period aided by a mix driven increase in contribution margins. Further out, we have extended the anticipated introduction of generic competition for Eliquis unto 2026 (compared with 2023 previously). We note the acceptance of SPC ( Supplementary Protection Certificate) in the EU extending patent protection until 2026 and we assume <span class="company">BMY</span> is seeking a patent term extension in the US to the same time period… Among global multinationals, BMS appears most closely aligned with our "Shrink, Smarten and Spin" industry framework given its well entrenched search and development strategy and historically strong execution track record....<span class="sent">As analyst Andrew Baum writes: We have increased our forecasts by up to 27% following an in depth analysis of the opportunities for <span class="company">BMY</span>'s immunotherapy portfolio outlined in our companion report…While we are unable to predict the dominant indications or even combinations for <span class="company">BMY</span>'s checkpoint portfolio, we are confident that the portfolio in aggregate will likely exceed $10bn in 2022.</span> We anticipate <span class="company">BMY</span> to grow revenues at 10% CAGR between 2014 and 2019, with EPS growth at 17% CAGR over the same period aided by a mix driven increase in contribution margins. Further out, we have extended the anticipated introduction of generic competition for Eliquis unto 2026 (compared with 2023 previously). We note the acceptance of SPC ( Supplementary Protection Certificate) in the EU extending patent protection until 2026 and we assume <span class="company">BMY</span> is seeking a patent term extension in the US to the same time period… Among global multinationals, BMS appears most closely aligned with our "Shrink, Smarten and Spin" industry framework given its well entrenched search and development strategy and historically strong execution track record....<span class="sent">As analyst <span class="analyst">Andrew Baum</span> writes: We have increased our forecasts by up to 27% following an in depth analysis of the opportunities for <span class="company">BMY</span>'s immunotherapy portfolio outlined in our companion report…While we are unable to predict the dominant indications or even combinations for <span class="company">BMY</span>'s checkpoint portfolio, we are confident that the portfolio in aggregate will likely exceed $10bn in 2022.</span> We anticipate <span class="company">BMY</span> to grow revenues at 10% CAGR between 2014 and 2019, with EPS growth at 17% CAGR over the same period aided by a mix driven increase in contribution margins. Further out, we have extended the anticipated introduction of generic competition for Eliquis unto 2026 (compared with 2023 previously). We note the acceptance of Tweet this   read full story

Bristol Myers Squibb ( NYSE: BMY) was upgraded by analysts at Citigroup from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, StocKRatingsNetwork.com reports. 
Share:  <span class="sent">Bristol Myers Squibb ( NYSE: BMY) was upgraded by analysts at <span class="analyst">Citigroup</span> from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Wednesday, StocKRatingsNetwork.com reports.</span> Tweet this   read full story

Quick Take  As the company reels from the patent expiry of blockbuster drug Plavix, its product pipeline shows promise. Preliminary data from Bristol's Phase 1 Nivolumab and Yervoy combination study shows that the formulation reduced tumors in the majority of melanoma patients. Eliquis and Metreleptin were recently reported to be showing positive results in their clinical trials. 
Share:  Quick Take  As the company reels from the patent expiry of blockbuster drug <span class="company">Plavix</span>, its product pipeline shows promise. Preliminary data from Bristol's Phase 1 Nivolumab and Yervoy combination study shows that the formulation reduced tumors in the majority of melanoma patients. Eliquis and Metreleptin were recently reported to be showing positive results in their clinical trials. Tweet this   read full story

It can be caused by diabetes, high blood pressure , or blocked arteries. Bristol Myers will also test new treatments for pulmonary fibrosis, Cuss said. It may run trials with drugs the company has developed itself as well as AM152, an experimental therapy gained with the $325 million purchase of Amira Pharmaceuticals . Inc in 2011. 
Share:  It can be caused by diabetes, high blood pressure , or blocked arteries. <span class="sent"><span class="company">Bristol</span> Myers will also test new treatments for pulmonary fibrosis, <span class="analyst">Cuss</span> said.</span> It may run trials with drugs the company has developed itself as well as AM152, an experimental therapy gained with the $325 million purchase of Amira Pharmaceuticals . Inc in 2011. Tweet this   read full story

Nevertheless, we believe that the drug is just one quarter old in the market and it is still too early to say whether or not it will meet our expectations. Bristol's CFO Charlie Bancroft mentioned on the earnings call that the drug's "differentiated clinical profile is being recognized and valued by physicians, payors, and patients," and we will wait for another few quarters before modifying our projections significantly. Our current price estimate for the company's stock is around $36 per share, which is at a 10% discount from the current market price. We are in the process of updating our model to reflect all the information released during the earnings call. 
Share:  Nevertheless, we believe that the drug is just one quarter old in the market and it is still too early to say whether or not it will meet our expectations. <span class="sent"><span class="company">Bristol</span>'s CFO <span class="analyst">Charlie Bancroft</span> mentioned on the earnings call that the drug's "differentiated clinical profile is being recognized and valued by physicians, payors, and patients," and we will wait for another few quarters before modifying our projections significantly.</span> Our current price estimate for the company's stock is around $36 per share, which is at a 10% discount from the current market price. We are in the process of updating our model to reflect all the information released during the earnings call. Tweet this   read full story

Cash, cash equivalents and marketable securities were $5.8 billion, with a net debt position of $2.1 billion, as of March 31, 2013. "The first quarter was a good start to an important year in which our focus will be on the growth of existing brands, the execution of new launches and the continued delivery of a diverse and sustainable pipeline," said Lamberto Andreotti, chief executive officer, Bristol Myers Squibb. "So far this year, we have launched Eliquis in several markets around the world, have begun working with AstraZeneca to bring Byetta and Bydureon to patients outside the U. S., and have been preparing for the presentation of key clinical data across our pipeline." About Bristol Myers Squibb. 
Share:  Cash, cash equivalents and marketable securities were $5.8 billion, with a net debt position of $2.1 billion, as of March 31, 2013. <span class="sent">"The first quarter was a good start to an important year in which our focus will be on the growth of existing brands, the execution of new launches and the continued delivery of a diverse and sustainable pipeline," said <span class="analyst">Lamberto Andreotti</span>, chief executive officer, <span class="company">Bristol Myers Squibb</span>.</span> "So far this year, we have launched Eliquis in several markets around the world, have begun working with AstraZeneca to bring Byetta and Bydureon to patients outside the U. S., and have been preparing for the presentation of key clinical data across our pipeline." About <span class="company">Bristol Myers Squibb</span>. Tweet this   read full story