At JPM, Bristol Myers Squibb CEO tries to soothe investor nerves

Christopher Boerner, CEO of Bristol Myers Squibb, emphasized the company’s 150-year history at the J.P. Morgan Healthcare Conference. Despite facing a 27% stock drop, he noted the company’s renewal and the emergence of new medicines to replace expiring patents. Investors may struggle with the decline of Bristol’s top-selling medicines like Eliquis, Revlimid, and Opdivo, as generic or biosimilar alternatives rise. Eliquis will be subject to price negotiation under the Inflation Reduction Act, Revlimid is the best-selling multiple myeloma medicine, and Opdivo is a pioneering cancer immunotherapy. Boerner’s message addressed the evolving landscape and the impending challenges for the company.

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