Bristol Myers Squibb and Foundation Medicine Partner to Create Diagnostic for Cancer Drug Repotrectinib
April 12, 2023
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BRISTOL-MYERS ($NYSE:BMY): Bristol Myers Squibb is a leading pharmaceutical company that develops, manufactures and markets medicines for a wide range of therapeutic areas. Recently, the company has partnered with Foundation Medicine to develop a diagnostic tool that would accompany their new cancer drug, repotrectinib. The new diagnostic will allow physicians to identify the patients who could benefit most from the drug. This collaboration between Bristol Myers Squibb and Foundation Medicine is part of the company’s larger goal of developing innovative treatments for cancer. The diagnostic tool is designed to assess tissue samples for mutations in certain genes, which can then be used to identify patients that may have an increased response to repotrectinib.
This new tool is expected to help doctors make more accurate and faster decisions regarding which treatment plans are best for their patients. The development of this diagnostic tool is integral to Bristol Myers Squibb’s continued success in the oncology market. With this technology, they can ensure that their new drug reaches the right patients, while also improving the overall outcomes of their treatments. This partnership will also help them maintain their industry-leading position in cancer treatment and research.
Stock Price
As a result of this news, BMS opened their stock at $70.5 and closed the day at $70.0, a 0.4% decrease from the previous closing price of 70.3. This partnership is expected to provide BMS with insight into repotrectinib’s efficacy and the potential to increase its market viability. BMS is hopeful that the diagnostic will be able to identify certain mutations that can be targeted with repotrectinib and help patients better manage their cancer. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Bristol-myers Squibb. More…
| Total Revenues | Net Income | Net Margin |
| 46.16k | 6.33k | 16.2% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Bristol-myers Squibb. More…
| Operations | Investing | Financing |
| 13.07k | -1.06k | -16.96k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Bristol-myers Squibb. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 96.82k | 65.7k | 14.97 |
Key Ratios Snapshot
Some of the financial key ratios for Bristol-myers Squibb are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.9% | 15.5% | 19.4% |
| FCF Margin | ROE | ROA |
| 25.9% | 17.5% | 5.8% |
Analysis
At GoodWhale, we specialize in analyzing the financials of companies to help investors make informed decisions. After taking a closer look at BRISTOL-MYERS SQUIBB, we have determined that it is a high risk investment based on our Risk Rating system. Specifically, our analysis has uncovered 3 risk warnings across the income sheet, balance sheet, and non financial aspects. To find out more details on these warnings, registered users are encouraged to log in and check out the report provided. GoodWhale prides itself in providing quality financial information to our users. By digging deeper into the financials of BRISTOL-MYERS SQUIBB, we hope to provide insight into the potential risks and rewards that come with investing in this company. More…
Peers
The company was founded in 1887 and is headquartered in New York City. The company’s products are sold in over 100 countries. Bristol-Myers Squibb Co’s competitors include Merck & Co Inc, Amgen Inc, Eli Lilly and Co.
– Merck & Co Inc ($NYSE:MRK)
Merck & Co Inc is a global health care company that offers a wide range of products and services to customers in more than 140 countries. The company has a market cap of 236.25B as of 2022 and a Return on Equity of 28.84%. Merck & Co Inc is a diversified company that operates in four main business segments: Pharmaceuticals, Vaccines, Animal Health, and Consumer Care. The company’s products include prescription and over-the-counter medicines, vaccines, biologic therapies, and consumer and animal health products. Merck & Co Inc is one of the world’s largest pharmaceutical companies and is a leading provider of health care products and services.
– Amgen Inc ($NASDAQ:AMGN)
Amgen Inc is a large biotechnology company with a market cap of 132.76B as of 2022. The company has a strong return on equity of 460.37%. The company focuses on developing and delivering therapies for serious illnesses.
– Eli Lilly and Co ($NYSE:LLY)
Eli Lilly and Co is a pharmaceutical company with a market cap of 312.88B as of 2022. Its return on equity is 45.88%. The company focuses on the discovery, development, manufacture, and sale of pharmaceutical products. It offers products in the areas of endocrinology, diabetes, oncology, immunology, neuroscience, and erectile dysfunction.
Summary
Bristol-Myers Squibb (BMS) is a pharmaceutical company that offers a wide range of innovative medicines for the treatment of various diseases. In addition, BMS has many promising products in development, such as its cancer drug repotrectinib. The company also recently announced a collaboration with Foundation Medicine to develop a companion diagnostic for repotrectinib. Given its strong financials, broad portfolio of innovative medicines, and attractive dividend yield, BMS is an attractive investment opportunity for investors looking for long-term growth and dividend income.
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