Bristol Myers Squibb Shows Resilience Amid Patent Expiry Challenges (Rating Upgrade)

Paul Bradbury/OJO Images via Getty Images Introduction Bristol Myers Squibb (NYSE:BMY) announced its Q2 2024 earnings on Thursday. My previous coverage of BMS was nearly a year ago, following Q2 2023 earnings, which inspired 52-week lows due to concerns about generic competition and patent cliffs. Revlimid, a blockbuster drug for the treatment of multiple myeloma, has seen its revenues fall since a generic version was released in early 2022. At its peak, Revlimid generated more than $10 billion per year ...