Is Bristol Myers Squibb Stock a Buy With Its New-Product Sales Soaring?
Out with the old, in with the new. That could be an apt slogan for Bristol Myers Squibb (NYSE: BMY) these days.
The big drugmaker announced its third-quarter results on Tuesday evening and held its quarterly conference call on Wednesday morning. Bristol Myers Squibb's management team was quick to point to the strong performance of several new drugs in its portfolio. Is the stock a buy with its new-product sales soaring?
Bristol Myers Squibb CEO Giovanni Caforio noted in the Q3 results press release that the company has launched nine new products over the last three years, with three of them coming in 2022. He especially highlighted the latest win -- recent U.S. Food and Drug Administration (FDA) approval of Sotyktu in treating moderate-to-severe plaque psoriasis.
Source Fool.com
