BMY vs AMGN: Which Biotech Stock Is More Resilient Now?

Core Insights - Bristol Myers Squibb (BMY) and Amgen (AMGN) are leading global biotechnology companies with diverse portfolios focused on various therapeutic areas [1][2] - Both companies have established strong market positions and consistently delivered shareholder value, making stock selection challenging [3] BMY Overview - BMY's growth portfolio includes drugs such as Opdivo, Reblozyl, and Breyanzi, contributing to strong top-line growth [4][10] - Opdivo sales are driven by its launch in MSI-high colorectal cancer and growth in non-small cell lung cancer, with global sales expected to increase in the high single-digit to low double-digit range by 2025 [5][6] - Reblozyl has annualized sales exceeding $2 billion, significantly boosting BMY's revenue, while Breyanzi sales are also strong, annualizing over $1 billion [7][8] - BMY's legacy portfolio is facing challenges due to generic competition, with expected declines of 15-17% in 2025 [11][12] AMGN Overview - Amgen has a vast portfolio with strong positions in oncology, cardiovascular disease, and rare diseases, supported by growth products like Repatha and Tezspire [13][14] - Despite competitive pressures affecting some products, Amgen's growth trajectory is driven by key drugs and a robust pipeline [15] - The acquisition of Horizon Therapeutics has expanded Amgen's rare disease offerings, enhancing its market position [16] Financial Estimates - BMY's 2025 sales are estimated to decrease by 0.8%, while EPS is expected to increase by 466.09% [17] - AMGN's 2025 sales are projected to grow by 8.78%, with EPS improving by 7.26% [20] Price Performance and Valuation - Over the past six months, BMY has outperformed AMGN slightly, with gains of 13.9% compared to AMGN's 13.5% [21] - In terms of valuation, AMGN trades at a higher forward P/E of 15.2X compared to BMY's 8.99X, indicating a more expensive valuation [21] - BMY offers a higher dividend yield of 4.54% compared to AMGN's 2.86% [22] Investment Considerations - Both companies are considered safe investments in the biotech sector, but AMGN is currently viewed as a better pick due to solid fundamentals and positive estimate revisions [23][25]