Bristol Myers Squibb: Share Price Growth In 2022 Best For A Decade - But 2023 Could Better It

Nov. 29, 2022 7:30 AM ETBristol-Myers Squibb Company (BMY)16 Comments

Summary

  • Bristol Myers Squibb is a pharmaceutical powerhouse after its Celgene acquisition.
  • The company's revenues in 2022 will be down slightly year-on-year as Revlimid sales fall from $12bn to ~$9bn after patent expiry.
  • The company's new product launches will eventually offset these losses and drive top line growth.
  • 9 new products have been launched within the past 2 years all with blockbuster (>$1bn per annum) revenue expectations.
  • I am expecting more strong growth from the company and think there is another 30% upside to the share price, potentially to be realised in 2023.
  • We're currently running a sale at my private investing ideas service, Haggerston BioHealth, where members get access to portfolios, market alerts, real-time chat, and more. Learn More »

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Investment Thesis

At the beginning of December 2021, Bristol Myers Squibb (NYSE:BMY) stock traded at a value of $53 - its lowest price since the stock market crashed in March 2020 in response to the global pandemic. Today it trades at a price

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This article was written by

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Disclosure: I/we have a beneficial long position in the shares of BMY, ABBV, GILD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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