Eliquis and Sprycel Could Boost BMY’s Revenue Growth in 2H17
In July 2017, the FDA accepted Bristol-Myers Squibb’s supplemental New Drug Application (or sNDA) for expanding the indication of Sprycel.
In 2Q17, Orencia contributed around 13% of Bristol-Myers Squibb’s net revenues.
In the Phase 3 CheckMate-214 trial, 41.6% patients on Opdivo and Yervoy combination therapy achieved the objective response rate (or ORR) compared to 26.5% patients who were on sunitinib.
In June 2017, Bristol-Myers Squibb presented the clinical trial data of its Phase 1/2 ECHO-204 trial.
In 2Q17, Bristol-Myers Squibb’s (BMY) Opdivo generated revenues of around $1.2 billion, which reflected ~45% growth on a year-over-year basis.
In 2Q17, Bristol-Myers Squibb reported diluted earnings per share (or EPS) of $0.56 compared to $0.69 in 2Q16.
Of the 23 analysts covering Bristol-Myers Squibb (BMY) in August 2017, six analysts recommended a “strong buy,” and four analysts recommended a “buy.” Ten analysts recommended a “hold,” and three analysts recommended a “sell.”
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Freeport-McMoRan (FCX) is expected to post adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $4.9 billion this year and $6.3 billion next year.
Copper prices have reacted to fluctuations in inventory levels over the last few quarters.
Moderation in Chinese copper demand is a risk for copper prices, though copper could find some support from supply-side factors.
One of the factors that has supported commodity prices from copper to aluminum this year has been better-than-expected demand in China.
Copper prices have shown strength over the last few trading sessions, which has helped the upwards price action of miners including Freeport-McMoRan (FCX), Glencore (GLNCY), and Southern Copper (SCCO).
The US dollar has shown weakness, which is impacting commodity prices.
The LME (London Metals Exchange) three-month copper contract has now closed above the $6,000 per metric ton price level for 19 consecutive trading sessions.