Is Bristol Myers Squibb Stock a Buy?
The stock market continues to be volatile because of the COVID-19 pandemic. While all the major market indexes are still down year to date, the market rallied on Thursday as Congress made real progress in its attempt to pass a stimulus deal to help those most affected by the outbreak.
Still, many quality stocks remain dirt cheap as a result of the recent sell-off, and now may be an excellent time to consider going on a stock-buying spree -- regardless of the short-term economic impact of the COVID-19 pandemic. One stock that investors should strongly consider right now is Bristol Myers Squibb (NYSE: BMY). Here's why the pharma giant presents attractive prospects.
Bristol Myers Squibb boasts a strong lineup of products, but the company's cancer treatments deserve special mention. The company's best-selling cancer drug at the moment is Opdivo, which treats advanced melanoma (skin cancer) and lung cancer, among other forms of the disease. During the fourth quarter, sales of Opdivo were $1.8 billion. While that represented a 2% year-over-year decline, the drug is still being evaluated for many other types of cancers, and its sales should pick up soon.
Source Fool.com
