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Bristol-Myers Looks To A Promising Future

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Bristol-Myers Looks To A Promising Future

Pharmaceutical company Bristol-Myers Squibb Co (NYSE: BMY) has some big opportunities on the horizon, and analysts are taking notice.

At a time when many pharma companies are beginning to worry about political battles over lowering drug prices, Bristol-Myers Squibb is hoping its bright future will outweigh any negativity coming from Washington, as the company's cancer fighting drug Opdivo is set to become a major player in the cancer-treatment space throughout the coming years, according to Barron's.

Opdivo

Opdivo is an immuno-oncology drug that has been successful in blocking patients' T-cell receptors and helping their immune systems detect cancerous cells and attack them. Currently, Opdivo is the most successful immuno-oncology drug on the market and has been approved for use against three different types of cancer. Opdivo was also the subject of Bristol-Myers' latest ad campaign, as the firm looked to broaden patient interest in the drug.

Related Link: Barron's Picks And Pans: Bristol-Myers Squibb, KeyCorp, Core-Mark And More

Immuno-Oncology Shows Promise

Drugs that treat very specific illnesses or affect only a small segment of the population have become lucrative ways for drug companies to maintain their profits as more and more generic brands are created. At the moment, Bristol-Myers' Opdivo costs around $12,500 per month as there are no generic brands, making it a huge money maker for the company.

Pharma Sector Under Political Weight

With such a promising future ahead, many are questioning why shares of Bristol-Myers are down nearly 10 percent so far this year.

The pharmaceutical industry has declined on a whole this year, as the upcoming election has weighed on investor sentiment. Rising prescription drug prices have been a huge topic in this year's presidential campaigns, and many worry that the pharma sector will suffer once a new administration takes over.

Image Credit: Public Domain

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