Bristol-Myers Squibb Company
) inked a deal with Emory University for the development of the
former's pipeline candidates primarily in the fields of oncology,
metabolics, hepatitis C and immunoscience.
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Per the agreement, Emory University will be responsible for
conducting phase II, phase III and pediatric studies in
metropolitan Atlanta for the development of Bristol-Myers'
pipeline. The initial focus of the deal would be to develop the
oncology pipeline at Bristol-Myers.
We note that Emory University is a well established educational and
research institution including nine highly ranked colleges and
professional schools. Moreover, the University boasts of a
comprehensive health system.
We currently have a Neutral recommendation on Bristol-Myers. The
stock carries a Zacks #3 Rank (Hold rating) in the short run. We
believe that investor focus will remain on how Bristol-Myers fares
following the US loss of exclusivity of its blockbuster blood
thinner Plavix on May 17, 2012.
Bristol-Myers has co-developed Plavix with
). The loss of exclusivity is likely to result in substantial
revenue losses for Bristol-Myers. Companies such as
Dr. Reddy's Laboratories
) have already launched their respective generic versions of the
Bristol-Myers is looking to combat the generic threat through
partnering deals and acquisitions. Apart from acquisitions and
partnership deals, Bristol-Myers is looking to introduce new
products to augment its product portfolio to combat the generic
threat. Bristol-Myers has met with a fair amount of success towards
achieving this objective. Many new products were launched/ approved
in 2011. We expect Bristol-Myers to continue introducing new
products throughout 2012.