Bristol Myers Squibb says Alzheimer's is the biggest market for new schizophrenia drug

Core Viewpoint - Bristol Myers Squibb identifies Alzheimer's disease as the largest market opportunity for its newly approved schizophrenia drug, Cobenfy, which is expected to generate billions in revenue [1][2]. Market Potential - Each treatment application for Cobenfy, including Alzheimer's-related psychosis, agitation, cognition, bipolar disorder, and autism, has multibillion-dollar potential, with Alzheimer's being the most significant market [2]. - There are nearly 6 million Alzheimer's patients in the U.S., with approximately half experiencing psychosis, making Cobenfy a potential first drug specifically approved for this condition [3]. Treatment Advantages - Current atypical antipsychotics used for treating Alzheimer's psychosis are not approved for this purpose and can increase mortality risk, whereas Cobenfy does not carry this risk [4]. - Alzheimer's agitation affects an estimated 60% to 70% of Alzheimer's patients, indicating a substantial need for effective treatment options [4]. Development Timeline - Bristol Myers Squibb plans to release initial late-stage trial data for Cobenfy in treating Alzheimer's-related psychosis by the end of the year, ahead of previous expectations [5]. - Phase three trials for Alzheimer's agitation, cognition, and bipolar disorder are expected to start in 2025, with autism studies commencing in 2026 [5]. Financial Projections - JPMorgan analyst estimates Cobenfy sales could reach approximately $5 billion by 2030, with peak sales potential in the$10 billion range across various treatment applications, providing significant revenue support for Bristol Myers Squibb amid patent expirations of top-selling treatments [6].