Bank of America Reiterates Neutral on Bristol-Myers Squibb

Bank of America maintains its Neutral rating on Bristol-Myers Squibb Co. BMY as FDA accepts Eliquis filing and grants priority review. In its report, Bank of America says, “BMY/PFE announced that the FDA has accepted the Eliquis filing for the prevention of stroke in patients with atrial fibrillation. The FDA has granted Eliquis a priority review with a PDUFA date of 3/28/12, in line with our expectations, given the best-in-class profile and overall mortality benefit. We are confident in Eliquis' approvability and expect it to capture 40% of the novel oral anticoagulant market for stroke prevention and generate $3.1bn in 2016 WW sales.” BMY closed at $31.11 on Monday.