Michael Burry rose to fame by calling the 2008 housing bubble, as documented in the hit movie The Big Short. More recently, he reentered the spotlight by buying into Gamestop before it became a meme stock. Taking a hard turn from such dramatic holdings, pharmaceutical stalwart Bristol Myers Squibb (NYSE: BMY) is now one of Burry's Scion Asset Management's top holdings. Let's look into a few reasons why the famed investor might be holding and one big reason why it might not be for you.

While $10-billion blockbuster Eliquis will likely anchor sales for the next few years, the company has multiple drugs in which it sees multibillion-dollar potential. And this vision may be starting to come to fruition as sales of its new product category are up 38% sequentially for the quarter, to $482 million.

One of these hopeful new compounds, cancer-fighting Opdualag, is a combination of Bristol's hit drug Opdivo and another monoclonal antibody. Opdualag has come out hot, generating $58 million in its first full quarter on the market. With the initiation of several late-stage trials for Opdualag in large markets such as colorectal and lung cancer, it is clear that the pharma giant is hoping the combination therapy picks up where blockbuster Opdivo will leave off in 2028 when its patent is set to expire. 

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Source Fool.com