May 24, 2024 11:08 GMT
Bristol Myers: 5yr Low
HEALTHCARE
Bristol Myers (BMY: A2 neg / A): Equity hits 5yr low
Bristol Myers hit a 5yr low stock price last night.
BMY has been highly acquisitive this year to replace a patent cliff which will see 60% of its sales under threat.
- Karuna $14b, Mirati $4.8b, Rayzebio $4.1b were funded in the $ markets with a $14b multi-tranche deal in February.
The company has been on Neg Outlook with Moody’s since Feb and cut by S&P in Dec 23.
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