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Bristol Myers Squibb BMY recently announced a strategic collaboration agreement with BioNTech BNTX for the global co-development and co-commercialization of the latter's investigational bispecific antibody BNT327 across numerous solid tumor types.
Bristol-Myers Squibb is attractively valued, offers a 5%+ dividend yield, and benefits from a strong oncology pipeline after its BioNTech deal. The $11B BioNTech partnership gives BMY access to BNT327, targeting large cancer markets, with a deal structure that limits BMY's downside risk. BMY's established cash flows, low payout ratio, and current low valuation make it a safer, income-generating pick versus higher-risk, growth-oriented BioNTech.
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BMY strikes a billion-dollar deal with BNTX to co-develop BNT327, a bispecific antibody targeting PD-L1 and VEGF-A in solid tumors.
Bristol Myers Squibb (BMY) closed the most recent trading day at $48.79, moving +1.06% from the previous trading session.
Bristol-Myers Squibb Co (NYSE: BMY) is inching up on Monday after announcing an $11 billion deal with BioNTech SE (Nasdaq: BNTX) aimed at transforming cancer treatment. The pharmaceutical behemoth announced the said partnership at ASCO, the world's largest cancer conference in Chicago.
Jared Holz, Mizuho health care equity strategist, joins 'The Exchange' to discuss the impact of tariffs on pharmaceuticals and how to trade in the sector.
Christopher Boerner, CEO of Bristol Myers Squibb, said Monday that the company's $11 billion cancer drug partnership with BioNTech could be "the next new frontier in the treatment of cancer." The companies will work on transforming outcomes for patients with difficult-to-treat solid tumors, Boerner said.