3 Reasons to Buy Bristol Myers Squibb Stock
Fears about a looming patent cliff have dragged on the shares.
3 Reasons to Buy Bristol Myers Squibb Stock
Overview
Bristol Myers Squibb (NYSE: BMY) shares have gone nowhere over the past few years. Why? The scariest two words in the pharmaceutical industry: "patent cliff." Just two medications -- Eliquis and Opdivo -- accounted for over $24.4 billion in sales last year, roughly half of total revenue. Market exclusivity for both drugs in the United States expires in 2028. At that point, the market will open, allowing lower-cost competitors to erode those sales.
The patent cliff creates a hole that the drugmaker must fill, and then some, if it wants to continue to grow. In that sense, it's hard to blame the market for growing skittish about the stock. But doubt and uncertainty can create opportunity. Here are three reasons to consider buying Bristol Myers Squibb shares like there's no tomorrow.
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Originally published at www.fool.com.
