Latest news with #Cobenfy
CNBC
4 days ago
- Business
- CNBC
Bristol Myers' new cancer partnership is promising, but doesn't change our stance on the stock yet
Bristol Myers Squibb on Monday made a splashy move to fortify its drug pipeline. However, the subdued stock reaction suggests Wall Street is looking for more show than tell. So are we. The news The drugmaker announced a licensing deal with Germany's BioNTech to jointly develop and commercialize the latter's experimental cancer therapy known as BNT327. The drug, which is still in clinical trials, belongs to an increasingly popular group of treatments called immuno-oncology. Often called IO for short, these treatments work by getting a patient's own immune system to help fight the cancer. Merck 's Keytruda is the best-known drug in the class, but Club name Bristol Myers' own Opdivo is there, too. Within the field of IO, there's a lot of buzz around the newer dual-acting approach that BNT327 – and similar drugs being investigated by other companies – use to treat the disease. Bristol Myer's agreement with BioNTech is potentially worth around $11 billion to the German drugmaker if certain milestones are achieved in the coming years. Bristol Myers is paying $1.5 billion upfront and owes another $2 billion in payments through 2028. Profits and losses from the drug will be shared equally between the two companies, according to a Bristol Myers press release. BioNTech is best known for its work on a Covid-19 vaccine in collaboration with Pfizer . Big picture For investors, Bristol Myers entered the year with a lot to prove, as the company navigates the loss of exclusivity for cancer drug Revlimid and nears the same fate for top-selling drugs such as bloodthiner Eliquis, and the aforementioned Opdivo in the coming years. The burden of proof got even higher in April following a failed trial for its new schizophrenia treatment Cobenfy, which investors — including the Club — have viewed as critical to the company's future revenue growth. While CEO Chris Boerner has argued that the trial results do not "really have any impact on the long-term potential" of Cobenfy, the market is divided. Speaking on CNBC on Monday, Boerner said the company's partnership with BioNTech gives the company "another leg for growth as we exit this decade." Boerner said he believes the two companies have an opportunity to "transform the outcomes for patients" in hard-to-treat solid tumors, including lung and triple-negative breast cancer. "We think this could be the next new frontier in the treatment of cancer," said Boerner, who added that Bristol Myers' experience in IO drugs with Opdivo is helpful in pursuing the BNT327 opportunity. BMY YTD mountain Bristol Myers' year-to-date stock performance. The long-term sales potential of Cobenfy isn't the only question mark that has lately weighed on shares of Bristol Myers, which are down around 18% over the past three months. Bristol Myers and its peers are also facing incoming tariff hurdles from President Donald Trump . Though the Trump administration has not formally announced tariffs on pharmaceuticals, the president has said they are being considered. Trump also signed an executive order in May to incentivize domestic manufacturing for prescription drugs. Bristol Myers already pledged a $40 billion investment in the U.S. last month. Asked about these other political dynamics Monday, Boerner said that the company is "engaging with the president and his administration on tariffs," noting that the majority of its infrastructure and sales are U.S.-based. "We need to make sure they understand the complexity of the supply chain so any tariffs that are implemented are implemented in a way that we don't see supply disruptions," the CEO said, further stating that this is a priority to ensure patients get their medicine. He also added that it would take time to shift supply chains. Bottom line Bristol Myers' deal with BioNTech is promising – and given the importance of filling out its drug pipeline with additional candidates to drive growth and assuage investor concerns about the patent cliff, Jim Cramer said he would have expected to see a more positive market reaction Monday. In afternoon trading, the stock gained less than 1% to just over $48 per share. BioNTech shares surged more than 19%, though. Jim called that disparity "a very one-way street." The hope, Jim explained, is that BNT327 could be competitive with Merck's Keytruda, if not even more effective. Nevertheless, we understand that investors have a higher bar for Bristol Myers these days in the wake of the Cobenfy trial in April. "It's turned into a show-me story," said Jeff Marks, director of portfolio analysis for the Club. Indeed, we sold 100 shares of Bristol Myers back in March when the stock was above $60 a share, but have held off on rebuilding it at these lower price levels for that reason. We lowered our price target on the stock to $60 a share from $70 following earnings in April to account for the new Cobenfy information. (Jim Cramer's Charitable Trust is long BMY. See here for a full list of the stocks.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
Yahoo
23-05-2025
- Business
- Yahoo
Bristol-Myers Squibb (NYSE:BMY) Showcases Breakthrough Oncology Data at ASCO 2025 Meeting
Bristol-Myers Squibb is advancing in oncology, as evidenced by its upcoming presentations at the 2025 ASCO Annual Meeting, which highlight its strong focus on cancer treatments. This coincided with a 2.66% rise in its share price last week. The company's progress included new data from several studies on its oncology portfolio, which could attract investor interest despite broader market declines driven by global trade tensions and tech sector losses. While the market overall fell by 1.4%, BMY's modest gain suggests that its recent product developments may have provided a counterbalance to the prevailing market trends. Every company has risks, and we've spotted 3 weaknesses for Bristol-Myers Squibb you should know about. This technology could replace computers: discover the 22 stocks are working to make quantum computing a reality. The recent developments from Bristol-Myers Squibb in oncology could significantly affect both the company's narrative and its future revenue and earnings forecasts. With ongoing presentations at the 2025 ASCO Annual Meeting, the focus on cancer treatment advancements suggests a solid foundation for potential growth. As R&D efforts intensify, revenue streams might benefit, especially with promising new indications like those for Cobenfy in Alzheimer's disease. However, operational efficiency efforts are imperative, given the mixed analyst expectations on revenue, which forecast a 4.2% annual decrease over the next three years. Over the past year, Bristol-Myers Squibb's total shareholder return was 18.78%, indicating a positive performance trajectory within that timeframe. However, when viewed against the broader US Pharmaceuticals industry decline of 12.1% and the overall market's return of 10.5%, BMY's performance stands out. This underlines the market's recognition of its potential in overcoming broader economic challenges, particularly as the market experienced a 1.4% decline during the recent week. Despite these gains, the current share price of US$47.57 lags behind the analyst consensus price target of US$57.2, representing a potential upside of 16.8%. Such a discrepancy could suggest an opportunity if the anticipated advancements materialize in revenue and earnings growth. Analysts project earnings to reach US$9.8 billion by 2028, necessitating a leverage of strategic growth initiatives to align with this forecast. Thus, current share movements should be viewed as part of longer-term strategic planning, with an eye on how ongoing R&D achievements can drive future valuations. Upon reviewing our latest valuation report, Bristol-Myers Squibb's share price might be too pessimistic. This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Companies discussed in this article include NYSE:BMY. This article was originally published by Simply Wall St. Have feedback on this article? Concerned about the content? with us directly. Alternatively, email editorial-team@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
22-05-2025
- Health
- Yahoo
Prices for new US drugs doubled in 4 years as focus on rare disease grows
By Deena Beasley (Reuters) -U.S. prices for newly-launched pharmaceuticals more than doubled last year compared to 2021, as companies leveraged scientific advances to develop more therapies for rare diseases, which typically command high prices, a Reuters analysis found. The median annual list price for a new drug was over $370,000 in 2024, according to the Reuters survey of 45 medicines. In 2021, the median price was $180,000 for the 30 drugs first marketed through mid-July, according to a study published in JAMA based on the same criteria. The median launch price was $300,000 in 2023 and $222,000 in 2022. The increase in prices has occurred even as the U.S. government tries to rein in prescription costs. Drug pricing has become a populist issue for President Donald Trump, who has called for drugmakers to bring U.S. prices in line with other high-income nations that pay far less. William Padula, professor of pharmaceutical and health economics at the University of Southern California, said there is no indication that the trend will slow — at least until there is progress in lowering the cost of developing new therapies. "For years we've had pretty good technology and solutions for a lot of the common conditions that many people have, like high cholesterol, high blood pressure, and managing the more common forms of cancer," Padula said. For rare diseases, there are fewer patients "and therefore the price per course of treatment is going to go up," he said. The percentage of drugs launched for orphan diseases, meaning they affect fewer than 200,000 Americans, rose to 72% in 2024 from 51% in 2019, according to the Iqvia Institute for Human Data Science. Over 40% of the orphan launches were for oncology. The other 28% included drugs for larger populations, such as schizophrenia drug Cobenfy, sold by Bristol Myers at a list price of $22,500 a year. The leading industry trade group, the Pharmaceutical Research and Manufacturers of America, said focusing on list prices for drugs that treat rare diseases "misses the broader context of how these drugs contribute to overall prescription drug spending, healthcare costs and value to patients." FOLLOWING THE SCIENCE Decoding of the human genome, completed in 2003, has paved the way for better understanding of the genetic and biological underpinnings of rare diseases, leading to advancements in medical science. Drugmakers are given incentives to invest in research for rare diseases, including longer periods of market exclusivity, in part because potential sales may be limited. Boston Consulting Group projected the 2024 crop of drug launches would reach peak annual sales of $60 billion, significantly lower than past averages due to the absence of mega-blockbusters, a term used to describe drugs with annual sales above $10 billion. The FDA approved 57 novel drugs last year, including seven new cell and gene therapies at the agency's biologic division. In 2023, the agency approved 55 drugs and 17 new biologics. Reuters surveyed the makers of 45 new drugs launched last year. The price analysis excludes imaging agents, vaccines, drugs used intermittently such as antibacterials, and products that have not yet launched commercially. The highest price for a drug taken consistently was over $1 million a year for Zevra Therapeutics' Miplyffa for Niemann-pick disease type C, an inherited metabolic disorder diagnosed in about 900 people in the United States. Orchard Therapeutics' Lenmeldy gene therapy for a rare inherited disorder that affects the brain and nervous system, was launched last year at a record-high price of $4.25 million for a one-time treatment. Pfizer's hemophilia gene therapy Beqvez was priced in 2024 at $3.5 million, but the company pulled it from the market less than a year later citing soft demand. Pharmaceutical companies say new medicines offer cost-saving value, including potentially fewer emergency room visits and hospital stays, and with some treatments using gene editing, the possibility of a cure. Drugmakers also stress they do not determine the portion of drug costs that are born by patients under health insurance plans. Many offer savings cards and other programs to reduce out-of-pocket costs, while insurers can receive discounts and rebates from manufacturer list prices, especially if competing treatments are available. (Reporting By Deena Beasley; Editing by Caroline Humer and Bill Berkrot) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CNBC
21-05-2025
- Business
- CNBC
5 stocks Jim Cramer is worried about, plus updates on the rest of the portfolio
Jim Cramer ran through all 30 holdings in the Investing Club's portfolio during the May Monthly Meeting on Thursday. He discussed the ones he most excited about — and others he's concerned about — as uncertainty over tariffs and the macroeconomic backdrop continue to linger. Apple: We're most worried about this stock. The tech behemoth is facing many headwinds, including Alphabet's legal battle with the Department of Justice, which could take away $20 billion in annual revenue, and President Donald Trump's pressure to manufacture iPhones in the U.S., which would drive up prices exponentially. Still, we're remaining long on the stock for now. After all, the company makes the best tech products in the world. Amazon : This is a great one to own amid the tariff uncertainty. Amazon can grab more share for its e-commerce business following Trump's crackdown down on a trade loophole that benefited Chinese retailer competitors like Temu and Shein. Abbott Laboratories : The medical device company has been "doing everything right," Jim said. He said Abbott can overcome ongoing litigation regarding its baby infant formula lawsuit as well. Members should continue to hold this stock. Broadcom : This chipmaker has been on fire over the past month as China and U.S. tensions ease. Shares gained more than 32% since the April 16 Monthly Meeting to Tuesday's close, making it the third best performer in the portfolio over the period. We will trim some if shares surpass the $251 level, roughly 8% higher than Tuesday's close. BlackRock : Shares of the world's largest asset manager have been closely correlated with the overall market's performance. We didn't anticipate that when starting a position late last year. Jim isn't overly worried yet though. Bristol Myers Squibb : Another worrisome stock. We originally thought Bristol Myer's schizophrenia treatment Cobenfy was unassailable. Recent trials, however, have shown otherwise. This has kept us from buying back shares we sold in the low $60s. In fact, we are considering a sale if things don't improve. Capital One: Investors should consider buying at current prices. The credit card issuer's recent acquisition of Discover Financial should provide more upside. One benefit of the deal is that Capital One can use Discover's network to drive down the percentage of fees that retailers have to pay, making it more competitive with rivals American Express, MasterCard and Visa. Costco : The bulk retailer is well positioned to offset any future tariff risks, according to Jim. Costco derives the majority of its sales domestically. Plus, the company has a nice recurring revenue stream from its regular membership fees. Salesforce : Agentforce, the company's AI suite, will be a "huge deal" for Salesforce, according to Jim. It could lead to a product that saves customers a lot of money. Still, there are risks for Salesforce right now, including increasing competition from ServiceNow , which could hurt its price-to-earnings multiple. CrowdStrike : The company reports earnings next week and cybersecurity spending has remained resilient, as we heard from peer Palo Alto Networks Tuesday evening. The stock has recently been knocked down on concerns about layoffs and an investigation into an old deal, but the company's outlook should remain strong. Coterra Energy : Jim described this stock as a "quandry." We want to buy more because of the benefits of its long coveted mix of oil and natural gas assets. It's also great news that some of its recent operational issues have been fixed. But we're holding off any additional purchases for now. DuPont : Here's another name we're upbeat on. DuPont's forthcoming spinoff means more upside for the stock as investors realize the specialty gas maker's full value. We would add to our DuPont position if the opportunity presents itself ahead of the breakup. Danaher : We're disappointed in this one. Danaher's China exposure remains a key risk for the company. The Chinese government's strategy to control health-care costs has hit Danaher's diagnostics business. The Club will consider trimming some the next time the stock rallies. Disney : Shares are nowhere as high as they should be, according to Jim. This stock was a dog for years but it's turning around nicely now. It should continue to do so. There has been a lot of progress since management has gotten serious about succession plans for current CEO Bob Iger. Jim also said there's a "tremendous group of leaders all rowing together" at Disney. He cited the recent hire of CFO Hugh Johnston as an example. Dover : We're worried about this industrial name, whose stock performance has been closely tied with the AI trade. Shares have been volatile because Wall Street's convinced that its data center exposure is all that Dover has to offer. That's only part of the company's story though. Remember, management has been wisely reshaping its portfolio by selling its low multiple businesses in order to buy high multiple ones. Eaton : The market has also wrongly viewed this stock as solely an AI play because of its data center business. Like Dover, its share performance has been tied to spending patterns of big hyperscalers. Jim said, however, that Eaton's aerospace business is very solid too. With Dover in the portfolio, we're considering taking one of these two industrial AI plays off the table. "I don't want to be the data center fund," Jim said. GE Vernova: This is the stock that Jim's most excited about right now. The upward trend in demand for natural gas to fuel electric grids means more revenues for GE Vernova's power and electrification business. The Club initiated a position in this energy equipment manufacturer on May 13. We'd consider buying more if it pulls back. Goldman Sachs : A rebound in the firm's investment banking (IB) business is underway, according to Jim. There are more initial public offerings on the horizon once tariff uncertainty fully subsides. That means a boost in revenues for Goldman's crucial IB division. "The tidal wave of deals means the 13 times multiple on Goldman Sachs is just plain silly," Jim said. Home Depot : This retail name is a buy right now on its current dip. Shares are down nearly 2% Wednesday on a mixed quarterly earnings report Tuesday evening. Although headline numbers were a miss, the company reiterated its full-year guidance. Honeywell International : We're upbeat on this stock as well. The market hasn't fully priced in the value of this forthcoming spinoff. Jim forecasted that Honeywell's aerospace may be an acquisition target once the divestiture is complete. Linde : We're remaining long on this industrial gas name. "It's not at a level where we can take action," he added. Eli Lilly : Jim maintained his forecast that Lilly will hit a $1 trillion market cap, up from its current $692 billion mark on Wednesday. The company's enormous growth prospects from its GLP-1 weight loss and diabetes drugs are enormous. It's not all roses for Lilly stock is facing a risk as Trump tells drugmakers to cut prices. Meta Platforms : This stock has surged in recent weeks. Jim said it has more room to run, given its solid quarterly earnings report on May 1. This is our favorite of the Club's Mag 7 names right now. We own all except Tesla and Alphabet , which we exited earlier this year. Microsoft : The tech giant's quarterly earnings report in May was fantastic. Jim said it's the beginning of several great quarters due to growth at Azure, Microsoft's crucial cloud computing business. There's been a boost of share price, but don't sell any of this stock. Nvidia : Jim outlined why the chipmaker benefits from recent news out of CoreWeave . The AI company announced a huge $1.5 billion private offering of senior notes this week in order to expand its operations due to immense demand. That's great news for Nvidia because CoreWeave derives its revenues from cloud-based rentals of AI servers that utilize the Nvidia's chips. Palo Alto Networks : This stock is down over 5% Wednesday despite posting a better-than-expected quarter on Tuesday evening. We're going to wait a session or two and see how things shake out. At that point, investors may want to consider buying more shares. After all, management said Palo Alto's platformization strategy — bundling its services together — remains on track. Starbucks : The coffee chain's turnaround is progressing under CEO Brian Niccol. Jim said he'd like to see the stock reach the $100 level again, about 18% higher than Tuesday's close. TJX Companies : Jim said it's a great time to buy this stock. Shares are down more than 3% Wednesday despite the retailer's solid quarterly earnings report in the morning. The TJ Maxx parent delivered a beat on sales and maintained its annual forecast. This is a great stock to own, in part, because the company is able to largely sidestep any direct hit from tariffs. Texas Roadhouse : If this restaurant stock was to surge higher, we would trim our position. Jim said we'd offload some shares at the $200 level. That's a little less than 5% higher than its Tuesday close price. Wells Fargo : This bank stock will jump once its $1.95 trillion asset cap is finally lifted. Management has made plenty of progress that makes us predict its removal will occur sooner than later. Just look at all the consent orders that have been cleared since CEO Charlie Scharf stepped into the role in 2019: A dozen, including one removed as recently as April 28. (See here for a full list of the stocks in Jim Cramer's Charitable Trust.) As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED. U.S. flag is seen hanging on New York Stock Exchange building on Independence Day In New York, United States on America on July 4th, 2024. Jim Cramer ran through all 30 holdings in the Investing Club's portfolio during the May Monthly Meeting on Thursday. He discussed the ones he most excited about — and others he's concerned about — as uncertainty over tariffs and the macroeconomic backdrop continue to linger.
Time of India
19-05-2025
- Business
- Time of India
IndusInd Bank, Jefferies, Citigroup & Goldman Sachs: Top stock recommendations for May 19
Representative image CLSA downgraded IndusInd Bank to hold with the target price reduced to Rs 780. Analysts said that the audit report, released last week, highlighted that Rs 674 crore was incorrectly recorded as interest income during the April-December nine-month period of FY25 and will be reversed in the Jan-March quarter of FY25. Also, 'other assets' and 'other liabilities' on its balance sheet were inflated by Rs 600 crore. Adjusting for the Rs 674 crore additional interest income implies its core net interest margin (NIM) was 17 basis points lower than its reported NIM. Analysts also cut the bank's FY25 net profit estimate by 22% and cut FY26-27 net profit estimate by 13%-17% due to NIM compression and lower growth. Jefferies has a buy on LIC Housing Finance with the target price at Rs 700. Analysts said the mortgage lender's net profit for the Jan-March quarter was in line with estimates, as better net interest income (NII) and higher other income were offset by higher opex and provenances. Its assets under management grew 7.3% on an annualised basis while disbursements grew 5%. NIM rose 16 basis points on a quarterly basis due to lower cost of funds. Citigroup has a buy on PB Fintech with the target price at Rs 2,150. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Perdagangkan CFD Emas dengan Broker Tepercaya IC Markets Mendaftar Undo Analysts said the company's net profit for the Jan-March quarter beat estimates. Also negligible taxes and a sharp decline in ESOP expense coupled with improvement in margins and robust back book growth aided robust profitability. Sharp moderation in savings led to modest a 22% annualised growth in overall core fresh business, they said. Goldman Sachs has a buy on Neuland Laboratories with the target price at Rs 14,775. Analysts expect the company's topline to accelerate by about 30% or more on an annualised basis in FY26. This is expected to be driven by monetisation of expanded unit III for higher supplies, commercialisation of Cobenfy and a potential fourth molecule, and launch or approvals of newer niche molecules in specialty API. Nomura has a neutral rating on Apollo Tyres with the target price at Rs 490. Analysts feel the company's growth recovery remained sub-par with Jan-March quarterly numbers below estimates. They see risks to growth recovery from weak commercial vehicle and exports demand. However, they said commodity tailwinds have largely been factored in. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
