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An AstraZeneca-Bristol Myers megamerger? Wall Street isn’t thrilled.
['Jacob Bell', 'Lead Reporter']
BioPharma Dive - Latest News
A rumored megamerger between pharmaceutical giants AstraZeneca and Bristol Myers Squibb is facing backlash on Wall Street — confusing analysts and spurring a significant stock sell-off.
Bristol Myers’ top sellers include the immunotherapy Opdivo, the blood thinner Eliquis and the immune system regulator Orencia.
And other so-called growth products like the schizophrenia medication Cobenfy, which Bristol Myers paid $14 billion to acquire, have yet to impress commercially.
On one hand, Bristol Myers’ top products are under patent pressure.
Bristol Myers did not respond to a BioPharma Dive request to comment.