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Is Bristol Myers Squibb Stock a Buy Now?

TheMotleyFool

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Is Bristol Myers Squibb Stock a Buy Now?

It's been an abysmal year for Bristol Myers Squibb (NYSE: BMY) and its shareholders. The company's shares are down by nearly 30% year to date. That starkly contrasts with the broader market, which has rebounded this year. Bristol Myers is facing several issues, most notably generic competition for some of its former best-selling therapies.

That's one of the biggest challenges drugmakers can encounter, but after the recent sell-off, some might think that the price is finally right and it is time to click the "buy" button on Bristol Myers. Is that the case? Let's dig in a little deeper and find out.