Bristol Posts Solid 1Q, Buoyed by Opdivo, Yervoy, and Eliquis, but Growth Will Likely Slow
Bristol reported first-quarter results largely in line with our expectations, and we don't expect any significant impact to our fair value estimate based on the results. We continue to view the company as undervalued despite competitive pressures in the immuno oncology market that are likely weighing on the company’s valuation. Further, the recent shareholder support from both Celgene and Bristol should drive the closure of the acquisition by the third quarter, and we continue to believe the com...Bristol-Myers Squibb is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products. The company's products are sold worldwide, primarily to wholesalers, specialty distributors, retail pharmacies, hospitals, government entities and the medical profession. The company manufactures products in the United States and Puerto Rico and has manufacturing operations in two foreign countries. The company has products in the following therapeutic classes: hematology, oncology, cardiovascular and immunology. The company's pharmaceutical products include chemically-synthesized or small molecule drugs and products produced from biological processes, called biologics.
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