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New York Times
18-07-2025
- Health
- New York Times
Health Cuts Would Result in Fewer Drugs for Americans, Budget Office Reports
Funding cuts to the National Institutes of Health and the U.S. Food and Drug Administration could sharply reduce the number of new drugs available to Americans in the coming decades, according to an analysis released on Friday by the Congressional Budget Office. The Trump administration has proposed shrinking the budget of the N.I.H., the world's premier funder of medical research, by $18 billion, or nearly 40 percent. But even a 10 percent reduction would prevent roughly 30 additional drugs from coming to market in the next three decades, the budget office said. The budget office also assessed a hypothetical scenario in which staffing reductions at the F.D.A. would delay the review of new drugs by nine months. Such delays would prevent 23 additional drugs from becoming available in that time period, according to the analysis. About 3,500 F.D.A. workers, roughly 15 percent of the work force, have been laid off by the Trump administration or have left voluntarily in recent months. The cuts come at a time of rapid innovation in gene therapies and in targeting rare diseases, cancers and mental health disorders, said Rena Conti, who directs the Technology Policy and Research Institute at Boston University. 'Having these type of cuts will fundamentally set back progress in meeting the demand for these type of therapies,' she said. 'And that leaves patients without hope.' The budget office issued its assessment in response to a request from several members of Congress opposed to the cuts, including Senator Jeff Merkley, Democrat of Oregon. This group provided the office with the scenarios it ended up assessing, including the hypothetical nine-month delay to drug reviews. Want all of The Times? Subscribe.
Globe and Mail
25-06-2025
- Business
- Globe and Mail
Will New Drugs Enable BMY to Offset the Impact of Generic Competition?
BMY depends on newer drugs like Opdualag, Reblozyl and Breyanzi to stabilize its revenue base as its legacy drugs face generic competition. Legacy Portfolio is adversely impacted due to continued generic impact on Revlimid, Pomalyst, Sprycel and Abraxane, as well as the U.S. Medicare Part D redesign effect. Sales of blood thinner medicine Eliquis were down 4% in the first quarter due to the impact of Medicare Part D redesign in the United States. In such a scenario, the performance of new drugs is key to BMY's growth. Thalassemia drug, Reblozyl, has put up a stellar performance, driven by strong growth in the first and second-line treatment of myelodysplastic syndromes (MDS)-associated anemia. The drug should contribute significantly in the coming decade. Revenue growth has been good for the leading immuno-oncology drug Opdivo, driven primarily by volume growth. Sales of CAR T cell therapy, Breyanzi, also continue to gain traction from the approval of new indications and expanded manufacturing capacity. Camzyos has also witnessed strong global uptake in obstructive HCM. BMY had earlier won FDA approval for xanomeline and trospium chloride (formerly KarXT), an oral medication for the treatment of schizophrenia, in adults, under the brand name Cobenfy. The approval broadens BMY's portfolio. Cobenfy represents the first new pharmacological approach to treating schizophrenia in decades. This drug is expected to contribute meaningfully to BMY's top line in the coming years. Competition for BMY's Key Drugs Oncology is a key therapeutic area of focus for Bristol Myers, which is developing and delivering transformational medicines in this space. The immuno-oncology space is dominated by pharma giant Merck 's MRK blockbuster drug Keytruda (pembrolizumab). Keytruda is approved for several types of cancer and alone accounts for around 50% of MRK's pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda. Pfizer PFE is one of the largest and most successful drugmakers in the field of oncology. It has an innovative oncology product portfolio of antibody-drug conjugates (ADCs), small molecules, bispecifics and other immunotherapies that treat a wide range of cancers, including certain types of breast cancer, genitourinary cancer and hematologic malignancies, as well as certain types of melanoma, gastrointestinal, gynecological and lung cancer. Pfizer also has oncology biosimilars in its portfolio and markets six of them for cancer. Last month, Pfizer inked a licensing agreement with 3SBio for the development, manufacturing and commercialization of SSGJ-707, a bispecific antibody targeting PD-1 and VEGF, outside China. BMY is also trying to develop bispecific antibodies. BMY's Price Performance, Valuation and Estimates Shares of Bristol Myers have lost 15% year to date compared with the industry 's decline of 3.4%. From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, BMY's shares currently trade at 7.34x forward earnings, lower than its mean of 8.54x and the large-cap pharma industry's 14.79X. The Zacks Consensus Estimate for 2025 and 2026 earnings per share has moved south in the past 60 days. BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. Only $1 to See All Zacks' Buys and Sells We're not kidding. Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent. Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators, and more, that closed 256 positions with double- and triple-digit gains in 2024 alone. See Stocks Now >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bristol Myers Squibb Company (BMY): Free Stock Analysis Report Pfizer Inc. (PFE): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis Report
