Bristol Myers Squibb presents an attractive value investment in the pharmaceutical sector, with a forward price-to-earnings ratio of 9.5, significantly lower than competitors Johnson & Johnson (21) and Merck (24). The company offers a 4.2% dividend yield and has increased payouts for 17 consecutive years. Bristol reported $48.2 billion in revenue for 2025, with 2026 guidance between $46 billion and $47.5 billion, demonstrating consistency despite modest decline. However, the favourable valuation reflects investor concerns about slowing legacy portfolio revenue, which fell from $25.7 billion in 2024 to $21.8 billion in 2025. Key challenges include an upcoming patent cliff for Eliquis, its blood thinner generating $14.4 billion in 2025 sales, and the $1.5 billion acquisition of Orbital Therapeutics whilst carrying over $47 billion in debt.

Bristol Myers Squibb's schizophrenia drug Cobenfy generated $155 million in sales during 2025, outpacing comparable treatments in its first year following FDA approval in September 2024. The medication represents the first new pharmacological approach to treating schizophrenia in decades. Recent phase II data presented at the Schizophrenia International Research Society Annual Congress showed adults with schizophrenia remained stable after switching to Cobenfy monotherapy over eight weeks, with low discontinuation rates and no dropouts due to lack of efficacy. Bristol Myers is pursuing label expansions across multiple indications, with ongoing phase III studies in Alzheimer's disease psychosis, agitation, cognitive impairment, bipolar I disorder and paediatric irritability associated with autism. The company expects Cobenfy to become a significant growth driver as legacy drugs face generic competition.

Bristol Myers Squibb adding 3 medications on TrumpRx. Mar 30, 2026 - 14:01 EXCLUSIVE: Bristol Myers Squibb is launching three medications on TrumpRx.gov on Monday, FOX Business has learned. The three prescription drugs will each be offered at deep discounts that range from 40% to 90% off the retail price. The Princeton, New Jersey-based company's drug Sotyktu retails for $7,135.55 and will be offered through TrumpRx.gov for $743. That represents a 90% discount off what patients have been paying. Sotyktu treats adults with moderate-to-severe plaque psoriasis. Zeposia, which treats relapsing forms of multiple sclerosis, will be added at a discount of between 88% and 90%. The weekly injection to treat moderate-to-severe rheumatoid arthritis, Orencia SC, will be reduced by 40% from the retail price. A White House official said this is the latest big pharma company to offer reduced prices after the tariff pressure from President Donald Trump. The talks with pharmaceutical companies continue to be successful, with more medications added to the government website. Bristol Myers' additions come weeks after FOX Business reported that Amgen and GSK were added to the list of prescription drug manufacturers offering discounts on the government website. Amgen offers medications on the website that cut 80% off the retail price. Amjevita has an original price of $1,484, but will be available on TrumpRx.gov for $299. The medication treats rheumatoid arthritis, psoriasis and ulcerative colitis. Amgen also lists Aimovig and Repatha for discounts of 62%. GSK discounts Incruse at 55% off the retail price. The drug treats COPD and will be listed at $159.20. GSK lists Arnuity, Relenza and Anoro at discounts ranging from 10% to 51%. The White House is pushing ahead with announcements to TrumpRx.gov as Americans look for ways to cut medical costs. Under the Biden administration, Bureau of Labor Statistics data shows, prescription drug costs increased 10.4% from January 2021 to January 2025. Under the Trump administration, prescription drug prices increased 0.2% from January 2025 through the latest data from February 2026.