Bristol-Myers Squibb Option Alert: Jul 18 $48 Calls at the Bid: 9000 vs 0 OI

Bristol-Myers Squibb Option Alert: Jul 18 $48 Calls at the Bid: 9000 @ $1.09 vs 0 OI; Ref=$45.135

Bristol-Myers Squibb (NYSE:BMY) Stock

BRISTOL-MYERS SQUIBB CO

Bristol-Myers Squibb

Bristol-Myers Squibb discovers, develops, and markets drugs for various therapeutic areas, such as cardiovascular, cancer, and immune disorders. A key focus for Bristol is immuno-oncology, where the firm is a leader in drug development. Bristol derives close to 70% of total sales from the US, showing a higher dependence on the US market than most of its peer group.

Bristol-Myers Squibb Company Common Stock

Bristol-Myers Squibb Co

BRISTOL-MYERS SQUIBB $2PR by Bristol-Myers Squibb Co.

AnaptysBio, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ANAB#NASDAQ">ANAB</a>) on Tuesday released updated data from the Phase 2b trial of rosnilimab, a PD-1 depleter and agonist, for <a href="https://www.benzinga.com/general/health-care" target="_blank" rel="noreferrer noopener">rheumatoid arthritis</a>.
In the 424-patient 2b trial, rosnilimab achieved JAK-like efficacy on multiple clinically meaningful measures, including low disease activity (LDA) and remission on the Clinical Disease Activity Index (CDAI), as well as ACR70 response, <a target="_blank" href="https://www.benzinga.com/pressreleases/25/06/g45757627/anaptys-announces-positive-rosnilimab-data-updated-through-six-months-in-robust-phase-2b-trial-in-" rel="noreferrer noopener">over six months</a>.
Furthermore, responses were then durable for at least two months off the drug.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/24/12/42445688/anaptysbio-discontinues-investment-in-eczema-candidate-after-disappointing-data" rel="noreferrer noopener">AnaptysBio Discontinues Investment In Eczema Candidate After Disappointing Data</a>
Rosnilimab was safe and well tolerated, particularly compared to standard-of-care biologics or JAKs.
All three doses (100mg Q4W, 400mg Q4W, 600mg Q2W) achieved statistically significant reductions in DAS-28 CRP and ACR20 at Week 12 versus placebo.
CDAI LDA (≤10) was achieved by 45% of 318 rosnilimab patients by Week 12, increasing to 69% (220 responders) across all doses by Week 14.
The company aims to complete its Phase 2 study for rosnilimab in ulcerative colitis/UC, with initial data expected in the fourth quarter of 2025.
As of the March 11, 2025&nbsp;data cutoff date, 83% were still in LDA at Week 34 across all doses. Of the remaining 17% of patients who did not sustain CDAI LDA at Week 34, most remained near the cutoff of CDAI=10, with a median CDAI of 13.
Rosnilimab demonstrated clinically meaningful improvements that deepened through Week 28 across multiple validated patient-reported outcomes, including the pain visual analog scale (VAS) and the health assessment questionnaire, or HAQ-Disability Index (DI), a self-reporting tool to measure function and disability.
HC Wainwright analyst Emily Bodnar wrote on Wednesday, &#8220;Given the data showcase a positive holistic story for rosnilimab in RA, we are increasingly positive on upcoming UC data.&#8221;
Bodnar upgraded AnaptysBio from Neutral to Buy, raising the price target<a href="https://www.benzinga.com/quote/ANAB/analyst-ratings" target="_blank" rel="noreferrer noopener"> from $22 to $38</a>.
HC Wainwright Highlights Competitor Datasets
Data using non-responder imputation (NRI) from Week 24 of the SELECT-CHOICE trial, which compared AbbVie Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) Rinvoq vs Bristol Myers Squibb&nbsp;&amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Orencia in rheumatoid arthritis (RA), showed similar results for both drugs. These findings align with the results seen for the company&#8217;s rosnilimab at Week 28, even though about 29% of patients had previously been treated with JAK inhibitors.
In contrast, Eli Lilly And Co&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) now-discontinued PD-1 agonist peresolimab showed a drop in CDAI LDA rates—from 55% at Week 14 to 37% at Week 24. This is notably lower than the 53–63% range reported for rosnilimab at Week 28.
Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) is also set to present early data for its PD-1 agonist at the upcoming EULAR conference, though its study is smaller than AnaptysBio&#8217;s.
Price Action: ANAB stock is down 12.1% at $20.66 at the last check on Wednesday.
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</ul>
Photo: Shutterstock

Analyst Color

Biotech

News

Upgrades

Health Care

Analyst Ratings

Movers

Trading Ideas

General

ABBV

ANAB

AnaptysBio's Arthritis Drug Matches Top Therapies In Phase 2 Trial, Analyst Sees Turning Point

BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) and Bristol Myers Squibb &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) entered into a co-development and <a href="https://www.benzinga.com/pressreleases/25/06/b45717442/biontech-and-bristol-myers-squibb-announce-global-strategic-partnership-to-co-develop-and-co-comme" target="_blank" rel="noreferrer noopener">co-commercialization agreement</a>.
The pact focuses on BioNTech&#8217;s investigational bispecific antibody BNT327 across numerous <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">solid tumor types</a>.
Under the agreement, BioNTech and Bristol Myers Squibb will work jointly to broaden and accelerate the development of this clinical candidate.
Also Read: <a href="https://www.benzinga.com/25/05/45205736/biontech-appoints-novartis-executive-as-finance-chief-reaffirms-2025-guidance-focuses-on-oncology-expansion" target="_blank" rel="noreferrer noopener">BioNTech Appoints Novartis Executive As Finance Chief, Reaffirms 2025 Outlook Focusing on Oncology Expansion</a>
BioNTech&#8217;s BNT327 is currently under extensive evaluation in multiple ongoing clinical trials, with over 1,000 patients having received the treatment to date. 
These evaluations include global Phase 3 trials with registrational potential, investigating BNT327 as a first-line treatment for both extensive-stage small cell lung cancer (ES-SCLC) and non-small cell lung cancer (NSCLC). 
Furthermore, BioNTech plans to initiate an additional global Phase 3 trial by the end of 2025 to assess the candidate&#8217;s efficacy in treating triple-negative breast cancer (TNBC).
Under the terms of the agreement, the companies will jointly develop and commercialize BNT327, including the development of BNT327 as monotherapy and in combination with other products. 
Both companies have the right to independently develop BNT327 in further indications and combinations, including combinations of BNT327 with proprietary pipeline assets.
Bristol Myers Squibb will pay BioNTech $1.5 billion in an upfront payment and $2 billion in non-contingent anniversary payments through 2028.
These tax-deductible charges will be recorded as Acquired IPR&amp;D Expense when incurred, with the $1.5 billion being incurred in Q2.
In addition, BioNTech will be eligible to receive up to $7.6 billion in additional development, regulatory and commercial milestones.
BioNTech and Bristol Myers Squibb will share joint development and manufacturing costs on a 50:50 basis, subject to certain exceptions. Global profits/losses will be equally shared between BioNTech and Bristol-Myers Squibb.
In May, Bristol-Myers Squibb agreed to pay $350 million to the State of Hawaii to settle claims related to the prescription drug Plavix, an antiplatelet drug that prevents blood clots by keeping platelets in the blood from coming&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/25/05/45389547/bristol-myers-squibb-strikes-350-million-deal-to-end-hawaiis-plavix-lawsuit" rel="noreferrer noopener">together and making clots</a>.
The agreement resolves a lawsuit filed by the state that alleged the pharmaceutical company engaged in deceptive practices surrounding the development, labeling, and marketing of the drug.
Price Action: BNTX stock is trading higher by 14.8% to $109.95, and BMY stock is trading lower by 0.62% to $47.98 at last check Monday.
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</ul>
Photo via Shutterstock

Large Cap

BNTX

Bristol Myers Inks $11 Billion Licensing Pact With BioNTech For Bispecific Cancer Drug

<ul>
<li>BNT327, BioNTech's PD-L1xVEGF-A bispecific antibody, is a clinically advanced investigational immunotherapy candidate with the potential to surpass current checkpoint inhibitor outcomes and set a new standard of care in multiple tumor types</li>
<li>The co-development and co-commercialization collaboration with a 50/50 profit/loss split will leverage both partners' expertise, resources and global footprint to accelerate BNT327's path towards potential regulatory approvals and market launches</li>
<li>BioNTech and Bristol Myers Squibb will jointly execute a broad clinical development program to evaluate and advance BNT327 across numerous solid tumor types</li>
</ul>
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.biontech.com%2Fen&amp;esheet=54263388&amp;newsitemid=20250602838823&amp;lan=en-US&amp;anchor=BioNTech+SE&amp;index=1&amp;md5=1b483074285e1f354b050f382ec03fb3">BioNTech SE</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>, "BioNTech"))) and <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.bms.com%2F&amp;esheet=54263388&amp;newsitemid=20250602838823&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=2&amp;md5=83c6c6eeb4378c5bb6d68c8e39efc4ff">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>, "BMS"))) today announced that the companies have entered into an agreement for the global co-development and co-commercialization of BioNTech's investigational bispecific antibody BNT327 across numerous solid tumor types. Under the agreement, BioNTech and BMS will work jointly to broaden and accelerate the development of this clinical candidate.

BioNTech And Bristol Myers Squibb Partner To Advance Bispecific Antibody BNT327 For Solid Tumors

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com%2F&amp;esheet=54260725&amp;newsitemid=20250527346996&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=e7f93e68b9084ecd1baf82bbde47a358">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced that the European Commission (EC) has approved a new Opdivo&#xAE; (nivolumab) formulation associated with a new route of administration (subcutaneous use [SC]), a new pharmaceutical form (solution for injection) and a new strength (600 mg/vial). Opdivo SC, or nivolumab for subcutaneous use co-formulated with recombinant human hyaluronidase (rHuPH20), has been approved for use across multiple adult solid tumors as monotherapy, monotherapy maintenance following completion of intravenous nivolumab plus Yervoy&#xAE; (ipilimumab)combination therapy, or in combination with chemotherapy or cabozantinib.
"The EC's decision to approve Opdivo SC ushers in a new era of cancer care in which we are able to deliver a 3- to 5-minute injection of a treatment that has shown consistent efficacy and comparable safety to intravenous Opdivo, which changed the cancer treatment landscape over a decade ago," said Dana Walker, M.D., M.S.C.E., Opdivo global program lead, Bristol Myers Squibb. "BMS is committed to advancing medicines that help improve the patient experience, and with the approval of Opdivo SC in the European Union, we are delivering on this goal."
The positive EC decision is based on results from the CheckMate -67T clinical trial and additional data that demonstrated comparable pharmacokinetics (PK) and safety profiles between Opdivo SC and IV Opdivo. The CheckMate –67T clinical trial showed noninferiority of PK primary endpoints, Cavgd28 (time-averaged Opdivo serum concentration over 28 days) and Cminss (trough serum concentration at steady state), with Opdivo SC vs. IV Opdivo in adult patients with advanced or metastatic clear cell renal cell carcinoma (ccRCC) who had received no more than two prior lines of systemic therapy but had not received prior immuno-oncology therapy. The geometric mean ratio (GMR) for Cavgd28 was 2.10 (90% CI: 2.00-2.20) and the GMR for Cminss was 1.77 (90% CI: 1.63-1.93). Additionally, as a key powered secondary endpoint, the objective response rate (ORR) in the Opdivo SC arm (n=248) was 24% (95% CI: 19-30), compared with 18% (95% CI: 14-24) in the IV Opdivo arm (n=247), showing that Opdivo SC has similar efficacy compared to IV Opdivo. The safety profile of Opdivo SC remained consistent with the IV formulation.
The pharmacokinetics, efficacy and safety results from CheckMate -67T were presented at the 2024 <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fnews.bms.com%2Fnews%2Fdetails%2F2024%2FSubcutaneous-Nivolumab-nivolumab-and-hyaluronidase-Shows-Noninferiority-Compared-to-Intravenous-Opdivo-nivolumab-in-Advanced-or-Metastatic-Clear-Cell-Renal-Cell-Carcinoma-in-CheckMate--67T-Trial%2Fdefault.aspx&amp;esheet=54260725&amp;newsitemid=20250527346996&amp;lan=en-US&amp;anchor=American+Society+of+Clinical+Oncology+%28ASCO%26%23174%3B%29&amp;index=2&amp;md5=42f55650523ff910e96b5bf4a257bb10">American Society of Clinical Oncology (ASCO&#xAE;)</a> Genitourinary Cancers Symposium. Additional analyses were presented at the 2024 ASCO Annual Meeting, the 2024 European Society for Medical Oncology (ESMO) Congress, and published in the Annals of Oncology.
"As the first and only subcutaneously administered PD-1 inhibitor approved in the European Union, subcutaneous nivolumab is helping to transform the treatment landscape for eligible patients by giving them a new way to potentially receive the same benefits of the IV formulation of nivolumab, in a more convenient manner," said Laurence Albiges, M.D., Ph.D., a professor of medical oncology at Université Paris-Saclay,&nbsp;and head of the Department of Oncology at Gustave Roussy, Villejuif, France. "This approval provides eligible patients and their doctors a new way to tailor treatment plans for each individual's needs and to improve the efficiency with which nivolumab can be administered&nbsp;from a patient perspective as well as in the organization of our healthcare resources."
The approval by the EC is valid in all 27 member states of the European Union (EU), as well as Iceland, Liechtenstein and Norway.

Government

Regulations

Bristol Myers Squibb Gets EU OK for First-of-Its-Kind 5-Minute Injection Cancer Drug Opdivo SC

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.bms.com&amp;esheet=54259291&amp;newsitemid=20250522073240&amp;lan=en-US&amp;anchor=Bristol+Myers+Squibb&amp;index=1&amp;md5=af9d83007f4ec9c0208de4cae58918fc">Bristol Myers Squibb</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) today announced the presentation of data across its oncology portfolio and pipeline at the 2025 American Society of Clinical Oncology (ASCO&#xAE;) Annual Meeting to be held May 30-June 3 in Chicago, Illinois. Data from more than 80 company-sponsored studies, investigator-sponsored studies, and collaborations showcase results spanning more than 20 cancer types.

Bristol Myers Squibb To Present Data Highlighting Differentiated Research Platform Of Oncology Treatments And Innovative Research Pipeline At ASCO 2025

This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.
Traders will search for circumstances when the market estimation of an option diverges heavily from its normal worth. High amounts of trading activity could push option prices to exaggerated or underestimated levels. 
Here's the list of options activity happening in today's session: 
<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>BSX</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$90.00</td>
<td>$286.6K</td>
<td>20.5K</td>
<td>19.1K</td>
</tr>
<tr>
<td>UNH</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/30/25</td>
<td>$320.00</td>
<td>$82.5K</td>
<td>2.3K</td>
<td>5.2K</td>
</tr>
<tr>
<td>HUM</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/30/25</td>
<td>$290.00</td>
<td>$330.7K</td>
<td>64</td>
<td>1.3K</td>
</tr>
<tr>
<td>AKRO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$50.00</td>
<td>$81.0K</td>
<td>573</td>
<td>292</td>
</tr>
<tr>
<td>OCUL</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>12/19/25</td>
<td>$10.00</td>
<td>$32.5K</td>
<td>60</td>
<td>190</td>
</tr>
<tr>
<td>LLY</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/27/25</td>
<td>$810.00</td>
<td>$35.5K</td>
<td>12</td>
<td>169</td>
</tr>
<tr>
<td>BMY</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>03/20/26</td>
<td>$45.00</td>
<td>$43.0K</td>
<td>3.5K</td>
<td>113</td>
</tr>
<tr>
<td>HIMS</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/15/25</td>
<td>$60.00</td>
<td>$35.0K</td>
<td>2.4K</td>
<td>85</td>
</tr>
<tr>
<td>ABBV</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>08/15/25</td>
<td>$175.00</td>
<td>$93.8K</td>
<td>384</td>
<td>59</td>
</tr>
<tr>
<td>NVO</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/15/27</td>
<td>$40.00</td>
<td>$29.9K</td>
<td>776</td>
<td>58</td>
</tr>
</tbody>
</table>

<h2>Explanation</h2>
These itemized elaborations have been created using the accompanying table. 
• For BSX (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), we notice a put option trade that happens to be bearish, expiring in 31 day(s) on June 20, 2025. This event was a transfer of 11467 contract(s) at a $90.00 strike. The total cost received by the writing party (or parties) was $286.6K, with a price of $25.0 per contract. There were 20532 open contracts at this strike prior to today, and today 19153 contract(s) were bought and sold. 
• Regarding UNH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UNH#NYSE">UNH</a>), we observe a call option trade with bearish sentiment. It expires in 10 day(s) on May 30, 2025. Parties traded 60 contract(s) at a $320.00 strike. The total cost received by the writing party (or parties) was $82.5K, with a price of $1375.0 per contract. There were 2315 open contracts at this strike prior to today, and today 5276 contract(s) were bought and sold. 
• Regarding HUM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HUM#NYSE">HUM</a>), we observe a call option trade with bullish sentiment. It expires in 10 day(s) on May 30, 2025. Parties traded 1350 contract(s) at a $290.00 strike. The total cost received by the writing party (or parties) was $330.7K, with a price of $245.0 per contract. There were 64 open contracts at this strike prior to today, and today 1371 contract(s) were bought and sold. 
• Regarding AKRO (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKRO#NASDAQ">AKRO</a>), we observe a call option sweep with bullish sentiment. It expires in 31 day(s) on June 20, 2025. Parties traded 270 contract(s) at a $50.00 strike. This particular call needed to be split into 11 different trades to become filled. The total cost received by the writing party (or parties) was $81.0K, with a price of $300.0 per contract. There were 573 open contracts at this strike prior to today, and today 292 contract(s) were bought and sold. 
• Regarding OCUL (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OCUL#NASDAQ">OCUL</a>), we observe a put option trade with bearish sentiment. It expires in 213 day(s) on December 19, 2025. Parties traded 100 contract(s) at a $10.00 strike. The total cost received by the writing party (or parties) was $32.5K, with a price of $325.0 per contract. There were 60 open contracts at this strike prior to today, and today 190 contract(s) were bought and sold. 
• For LLY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>), we notice a call option trade that happens to be bearish, expiring in 38 day(s) on June 27, 2025. This event was a transfer of 24 contract(s) at a $810.00 strike. The total cost received by the writing party (or parties) was $35.5K, with a price of $1480.0 per contract. There were 12 open contracts at this strike prior to today, and today 169 contract(s) were bought and sold. 
• Regarding BMY (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), we observe a put option trade with bearish sentiment. It expires in 304 day(s) on March 20, 2026. Parties traded 104 contract(s) at a $45.00 strike. The total cost received by the writing party (or parties) was $43.0K, with a price of $414.0 per contract. There were 3563 open contracts at this strike prior to today, and today 113 contract(s) were bought and sold. 
• Regarding HIMS (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIMS#NYSE">HIMS</a>), we observe a call option trade with neutral sentiment. It expires in 87 day(s) on August 15, 2025. Parties traded 25 contract(s) at a $60.00 strike. The total cost received by the writing party (or parties) was $35.0K, with a price of $1400.0 per contract. There were 2475 open contracts at this strike prior to today, and today 85 contract(s) were bought and sold. 
• Regarding ABBV (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>), we observe a call option sweep with bearish sentiment. It expires in 87 day(s) on August 15, 2025. Parties traded 59 contract(s) at a $175.00 strike. This particular call needed to be split into 5 different trades to become filled. The total cost received by the writing party (or parties) was $93.8K, with a price of $1590.0 per contract. There were 384 open contracts at this strike prior to today, and today 59 contract(s) were bought and sold. 
• For NVO (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>), we notice a call option sweep that happens to be bullish, expiring in 605 day(s) on January 15, 2027. This event was a transfer of 9 contract(s) at a $40.00 strike. This particular call needed to be split into 9 different trades to become filled. The total cost received by the writing party (or parties) was $29.9K, with a price of $3330.0 per contract. There were 776 open contracts at this strike prior to today, and today 58 contract(s) were bought and sold. 
Options Alert Terminology 
 - Call Contracts: The right to buy shares as indicated in the contract. 
 - Put Contracts: The right to sell shares as indicated in the contract. 
 - Expiration Date: When the contract expires. One must act on the contract by this date if one wants to use it. 
 - Premium/Option Price: The price of the contract. 
For more information, visit our <a href="https://pro.benzinga.com/blog/how-to-understand-option-alerts/">Guide to Understanding Options Alerts</a> or read <a href="https://www.benzinga.com/markets/options">more news on unusual options activity</a>. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Options

AKRO

Hims & Hers Health, Inc. Class A Common Stock

HIMS

OCUL

10 Health Care Stocks With Whale Alerts In Today's Session

On the surface, outside circumstances don't appear favorable for pharmaceutical giant Bristol-Myers Squibb Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>), which finds itself caught in a political wake. Earlier this week, President Donald Trump signed an executive order aimed at <a href="https://www.benzinga.com/general/health-care/25/05/45341590/trumps-drug-pricing-executive-order-could-rattle-pharma-stocksprice-cuts-up-to-80">lowering prescription drug prices</a>, posing significant challenges for pharmaceutical companies. Still, with the bad news baked into BMY stock, a potential for a bounce back isn't out of the question.
In a Truth Social post on Sunday, Trump stated that the executive order will implement a "Most Favored Nations" policy. Essentially, the directive will prevent pharmaceutical firms from charging disparate prices across different markets. In theory, then, U.S. consumers will pay no more than what patients from other countries will be charged for the same drug.
Fundamentally, the move will likely have the biggest impact on Medicare Part B drugs, a category that largely consists of outpatient prescriptions and biologicals. Further, the prices of these drugs are directly managed by the Centers for Medicare &amp; Medicaid Services (CMS).
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As it relates to Bristol-Myers Squibb, its cancer drug Opdivo falls under the Part B categorization. This fact puts BMY stock at risk since Trump is seeking to reduce prescription drug prices by "30% to 80%." Setting aside the <a href="https://www.msnbc.com/opinion/msnbc-opinion/trump-drug-price-executive-order-big-pharma-rcna206289">legality</a> of the proposal, a discount of that magnitude would force a reevaluation of the business.
Nevertheless, the shock to the system may present an opportunity for contrarian speculators.
<h2 class="wp-block-heading">A Rare Quantitative Signal May Bode Well for BMY Stock</h2>
Although BMY stock represents one of the stalwarts of the broader healthcare ecosystem, it hasn't always been the most productive security for investors. For example, in the past 52 weeks, shares have only gained less than 6%. And in the trailing five years, BMY is down more than 27%.
Part of the challenge centers on the choppiness of the security. Since January 2019, BMY stock barely demonstrates an upward bias. Specifically, the odds that a long position held for a one-week period will be profitable are only 50.6%. That's not a reliable edge by any means.
However, the long-side probability is not 50.6% across all sentiment regimes. In other words, certain fear and greed cycles may feature probabilities that are much more favorable than the baseline.
As circumstances stand right now, BMY stock is charting a "2-8" sequence: two up weeks mixed with eight down weeks, with a negative trajectory across the period. This bearish-dominated sequence has only materialized 18 times in the past decade. Notably, though, in 61.11% of cases, the following week's price action has resulted in upside, with a median return of 1.19%.
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="576" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16152538/BMY-stock-10wk-forecast-1024x576.jpg" alt="" class="wp-image-918453" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16152538/BMY-stock-10wk-forecast-1024x576.jpg 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16152538/BMY-stock-10wk-forecast-300x169.jpg 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16152538/BMY-stock-10wk-forecast-768x432.jpg 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/16152538/BMY-stock-10wk-forecast.jpg 1280w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption class="wp-element-caption">Image by author</figcaption></figure>
Assuming the bulls continue to control the market, a move toward $48 over the next three weeks would be quite reasonable. On the other hand, should the bears assume the wheel, a gradual descent to around $45 may be the downside target.
<h2 class="wp-block-heading">Scalping a Big Payout from a Small Move</h2>
In the open market, BMY stock could deliver a return of about 3%, which isn't anything to write home about. However, it's a different story when traders take advantage of the unique geometry of multi-leg options strategies.
Take, for example, the 47/48 bull call spread expiring June 6. This transaction involves buying the $47 call and simultaneously selling the $48 call. With the credit received from the short call partially offsetting the debit paid for the long call, the net debit paid for this trade comes out to $47. Should BMY stock rise through the short strike price of $48 at expiration, the maximum reward is $53, a payout of nearly 113%.
To be clear, both legs of the 47/48 call spread are out the money, which means that if BMY stock doesn't move at all from here, the entire net debit is at risk of loss. On the other hand, the leverage that options provide allows relatively small moves to translate to big gains.
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Image: Shutterstock

Options Corner: Political Turmoil Sets Up A Contrarian Call Spread For Bristol-Myers Squibb

On May 12, President Donald Trump followed through on a campaign promise by signing an Executive Order (EO) mandating that pharmaceutical companies lower their prescription drug prices in the US to those seen abroad.
At a media event, Trump told reporters he was aiming for price cuts of between 59% and 90% and gave drug companies 30 days to play ball.
Wall Street digested the news, and while major biopharma stocks saw share prices drop the day the EO was announced, most industry stocks rebounded.&nbsp;
Here are three pharma stocks that won&#8217;t just rebound, but are poised to soar because of Trump&#8217;s executive order.
<h1 class="wp-block-heading">Team Trump on Solid Ground?</h1>
Nobody&#8217;s denying that US drug prices are out of whack. A 2024 RAND Corporation study concluded US drug prices were approximately three times higher than those in 33 other developed countries.
Presidents have full power to order such a price cut from a private industry, at least in part.
&#8220;That&#8217;s especially the case in sectors like healthcare where government programs like Medicare are massive buyers,&#8221; said Lou Carter, founder and CEO at the Best Practice Institute in Palm Beach Gardens, Fla. &#8220;Policy isn&#8217;t just about law—it&#8217;s about leverage. This EO uses the weight of public programs to force pricing accountability, and that&#8217;s smart business when you&#8217;re managing taxpayer funds.&#8221;
Congress and the courts can try to stop the EO in its tracks, but success on that front is unlikely.&nbsp;
&#8220;Politically, it&#8217;s tough to argue against lower drug prices,&#8221; Carter said. &#8220;Even if pharma lobbies hard, most lawmakers know it&#8217;s political suicide to oppose something that helps seniors afford insulin. If this goes to court, it&#8217;ll hinge on procedural questions—not on whether the move is popular or right.&#8221;
<h1 class="wp-block-heading">Bigger Drug Makers are Hardest Hit</h1>
Given the size and scope of the EO, it&#8217;s no surprise that the more substantial drug companies may find themselves in financial trouble.&nbsp;
&#8220;Large-cap biotech and specialty pharma companies with heavy Medicare exposure like Amgen (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>) or Regeneron (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) could be hit hardest,&#8221; said Dr. Will Soliman, Founder and CEO of the New York City-based Accreditation Council for Medical Affairs. &#8220;They rely on high-margin (Medicare) Part B drugs.&#8221;
Vertical-oriented drug makers could also feel the heat from the EO.&nbsp;
&#8220;Specialized oncology manufacturers like Bristol Myers Squibb (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) have greater exposure than diversified pharmaceutical companies with broader portfolio ranges,&#8221; said Seann Malloy, founder and managing partner of Malloy Law Offices in Bethesda, Md. &#8220;Small to mid-cap biotechnology companies with early commercial products often fall outside immediate impact zones due to limited Medicare utilization and existing price protection provisions. &#8220;
&#8220;The executive order&#8217;s key element mandates that Medicare&#8217;s prescription drug payments align with the lowest prices in other developed countries, essentially using international reference pricing,&#8221; Malloy said. &#8220;While some demonstration projects will start within 30 days, full implementation across all provisions will take longer, likely 6-12 months, due to necessary regulatory development. &#8220;
Timing could play a big role in determining how much of an impact the EO will have on biotech drug stocks, if any.
Initially, the order focuses on physician-administered drugs under Medicare Part B but may later include retail prescriptions under Part D. &#8220;This staged implementation means the immediate and long-term market effects will differ, a point often missed by investors,&#8221; Malloy noted. &#8220;Despite initial impressions of swift price changes, significant revenue impacts will likely be delayed by extensive regulatory procedures.&#8221;
Additionally, overseas drug providers may face stiff headwinds from the Trump drug price directive.
&#8220;International manufacturers are most vulnerable,&#8221; said Javier Palomarez, founder and CEO of the United States Hispanic Business Council. &#8220;Many of them ship to the United States because of the return on investment &#8211; eroding that return dampens the incentive and ability to ship medicines across the world, which could lead to total loss of US market access for some companies.&#8221;
<h1 class="wp-block-heading">Three Drug Stocks That Bear Watching Over the Next 30 Days</h1>
Biotech investors looking to leverage the Trump EO should understand Trump&#8217;s intention to &#8220;cut out the middleman,&#8221; as he said in his May 12 press event. This translates to good news for actual drug manufacturers and not-so-good news for so-called pharmacy-benefit managers.
PBM&#8217;s act as intermediaries between health insurance companies, big employers, drug manufacturers, insurers, and patients. While they don&#8217;t produce prescription drugs, they handle the more mundane side of the drug business, like claims processing and negotiating prescription drug prices.
The big drug producers have historically blamed the PBMs for sky-high drug prices and would likely back any initiative that expands the direct-to-consumer drug marketplace. In that scenario, no insurers are needed, as drug consumers could deal directly with drug manufacturers to buy the medicines they need, presumably at a more affordable price.
Investors in that marketplace would want large drug makers, and big PBMs would not. These three drug stocks stand out on the plus side.
<h2 class="wp-block-heading">Eli Lilly</h2>
Drug manufacturing giant Eli Lilly (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) is priced high at $730 per share, but it&#8217;s a stock that would likely prosper in a direct-to-consumer prescription drug marketplace. The stock is off by 5.0% year-to-date, but 26 Wall Street analysts who track LLY give it a top rating. The company&#8217;s recent earnings per share are off the charts, with an upward spike of 106% in EPS in 2024 and an estimated 68% in 2025. The stock is off 20% compared to recent highs, which could mean a nice discount for a drug industry stalwart.
<h2 class="wp-block-heading">Novo Nordisk</h2>
Novo Nordisk (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) has experienced market woes that preceded the Trump E/O, as competitors continue to chew into market share in the lucrative weight loss drug market. Particularly damaging was a recent study that concluded patients taking Eli Lilly&#8217;s Zepbound were losing weight faster than with Novo&#8217;s Wegovy. That&#8217;s one big reason Novo Nordisk has seen its share price fall by 50% over the past year. Yet the stock is in rebound mode right now, up 13.9% over the past month. A $2.2 billion deal between Novo and Septerna (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SEPN#NASDAQ">SEPN</a>) to develop weight loss pills is seen as a big step by analysts and big names like Goldman Sachs and JP Morgan are sticking to their buy calls on the stock. Meanwhile, a larger group of industry analysts is out with a consensus 50% share price upside from current levels.
<h2 class="wp-block-heading">AbbVie</h2>
AbbVie (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ABBV#NYSE">ABBV</a>) is a genuine cash flow producer that seems immune to any political interference from Washington, D.C. The drug manufacturer has a diverse set of popular prescription drugs, like Botox, Humira, Rinvoq, and Skyrizi. The stock only fell by a paltry 1% on the E news this week, and is up 5% over the past month. It also comes with a healthy 3.6% dividend for income-minded investors, a robust drug pipeline in play, and a brand new regulatory &#8220;green light&#8221; for its lung cancer drug Emrelis, supporting the rationale that ABBV shares should continue to climb in 2025.
<a href="https://benzinga.zoom.us/webinar/register/WN_OJ2FBspHSJSSVNlW8zGapw/?utm_campaign=webinar052025&amp;utm_adType=sponsorad&amp;utm_ad=RD051925/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">Smart Options Plays for Traders Watching Junk Bonds</a> Credit markets are breaking down. Volatility is back. Join Ryan Faloona, Anne-Marie Baiynd, and Tim Melvin live on May 20 at 6 PM ET to see how seasoned traders are using junk bond signals and short-term options to hedge, profit, and stay a step ahead. <a href="https://benzinga.zoom.us/webinar/register/WN_OJ2FBspHSJSSVNlW8zGapw/?utm_campaign=webinar052025&amp;utm_adType=sponsorad&amp;utm_ad=RD051925/?el=ResearchDaily&amp;he={{email}}&amp;adt_ei={{email}}&amp;utm_medium=newsletter">Save your seat for this live tactical session.</a>
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3 Stocks That Will Profit From Trump's Drug Price Cut

Bristol Myers Squibb Receives European Commission Approval For Perioperative Regimen Of Neoadjuvant Opdivo (nivolumab) And Chemotherapy Followed by Adjuvant Opdivo For Resectable, High-Risk Non-Small Cell Lung Cancer With PD-L1 Expression ≥1%

Sanofi SA (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) announced on Wednesday that it will invest at least $20 billion in the <a href="https://www.benzinga.com/general/health-care" target="_blank" rel="noreferrer noopener">U.S. through 2030</a>.
Research and development, plus U.S. manufacturing, will receive the bulk of the spending.
The company also expects higher job creation within the communities where Sanofi and its partners are located, which will help <a href="https://www.benzinga.com/pressreleases/25/05/n45414947/sanofi-to-invest-at-least-20-billion-in-the-us-through-2030-growing-investments-in-science-and-exp" target="_blank" rel="noreferrer noopener">enhance the U.S. supply chain</a>.
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Sanofi has 13,000 US-based employees, according to CEO Paul Hudson.
&#8220;Our expected investments in the US will be substantial and will help ensure the production of key medicines in the U.S.,&#8221; he added.
Sanofi also expects to partner with other domestic manufacturers to help ensure the production of medicines in the U.S.  
Earlier in May, U.S. President&nbsp;Donald Trump's&nbsp;signed an executive order to promote prescription drug manufacturing in the U.S., streamlining the path for companies to build new production sites as potential tariffs on&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">imported medicines loom</a>.
The White House wants facilities to come on board at a faster rate. It <a href="https://www.whitehouse.gov/presidential-actions/2025/05/regulatory-relief-to-promote-domestic-production-of-critical-medicines/?tblci=GiCUX7wvU_AgmIIiQduNYr6JQuJQLy6SZJGvpyeZuCzyqiCN1VcoxvTN4f7-y-PqATDviEo" target="_blank" rel="noreferrer noopener">estimates</a> that it can currently take five to 10 years to build new pharmaceutical manufacturing capacity, which it calls "unacceptable from a national-security standpoint.&#8221;
It&#8217;s not just Sanofi. <a href="https://www.benzinga.com/25/05/45234032/fda-expands-surprise-inspections-at-foreign-drug-and-food-facilities-targets-double-standards-in-overseas-manufacturing-oversight" target="_blank" rel="noreferrer noopener">Amid tariff uncertainty</a>, many drug companies are investing to boost production within the U.S.:
<ul class="wp-block-list">
<li>Eli Lilly And Co&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) doubled&nbsp;<a href="https://www.benzinga.com/general/biotech/25/02/43982604/eli-lilly-doubles-capital-spending-on-us-drug-manufacturing-with-50-billion-target" target="_blank" rel="noreferrer noopener">domestic medicine production</a>.</li>
<li>Thermo Fisher Scientific Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) announced it would invest an additional $2 billion in the U.S. over&nbsp;<a href="https://www.benzinga.com/general/health-care/25/04/44995428/thermo-fisher-doubles-down-on-us-manufacturing-in-2b-expansion-plan" target="_blank" rel="noreferrer noopener">the next four years</a>.</li>
<li>Medtech firm&nbsp;Becton, Dickinson, and Company&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) also announced its intention to invest&nbsp;$2.5 billion&nbsp;in U.S. manufacturing capacity&nbsp;<a href="https://www.benzinga.com/general/health-care/25/05/45140102/potential-tariff-bites-into-becton-dickinson-2025-profit-outlook-company-will-invest-2-5-billion-to-boost-us-manufacturing" target="_blank" rel="noreferrer noopener">over the next 5 years</a>.</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)  seeks to nearly double its manufacturing capacity through a new agreement with <a href="https://www.benzinga.com/general/biotech/25/04/44931246/regeneron-partners-with-japan-based-fujifilm-to-bolster-us-manufacturing-capacity-via-3-billion-deal" target="_blank" rel="noreferrer noopener">FUJIFILM Diosynth Biotechnologies</a>.</li>
<li>Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) unveiled a $23 billion investment plan to expand in the U.S. <a href="https://www.benzinga.com/general/biotech/25/04/44761201/novartis-commits-23-billion-to-expand-us-manufacturing-over-five-years-despite-tariffs-uncertaint" target="_blank" rel="noreferrer noopener">over the next five years</a>.</li>
<li>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) plans to invest more than <a href="https://www.benzinga.com/markets/equities/25/03/44433978/johnson-johnson-to-invest-55-billion-in-us-to-boost-manufacturing-drug-discovery" target="_blank" rel="noreferrer noopener">$55 billion in the U.S. over the next four years</a>.</li>
<li>Roche Holdings AG&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>)&nbsp;announced that it will invest $50 billion in the U.S. over&nbsp;<a href="https://www.benzinga.com/topic/pharmaceuticals" target="_blank" rel="noreferrer noopener">the next five years.</a></li>
<li>Bristol-Myers Squibb &amp; Co.'s&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)&nbsp;Christopher Boerner, chair and chief executive officer,&nbsp;<a href="https://www.statnews.com/2025/05/05/bristol-myers-squibb-pharmaceutical-policy-us-trump-administration-innovation-tariffs/?tblci=GiCUX7wvU_AgmIIiQduNYr6JQuJQLy6SZJGvpyeZuCzyqiCN1VcoxvTN4f7-y-PqATDviEo" target="_blank" rel="noreferrer noopener">shared</a>&nbsp;plans to invest $40 billion in U.S. R&amp;D, technology, and manufacturing over the next five years in an op-ed published by Statnews.</li>
</ul>
Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) is one pharma company that did not highlight investments in new manufacturing plants. The company noted that they already have significant capacity and flexibility to manufacture <a href="https://www.benzinga.com/general/biotech/25/04/45118145/pfizer-ceo-albert-bourla-emphasizes-national-security-in-us-drug-manufacturing" target="_blank" rel="noreferrer noopener">products in the U.S</a>.
Price Action: Sanofi stock is down 1.53% at $49.20 at the last check on Wednesday.
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Shares of pharmaceutical stocks are trading lower. The sector may down on continued weakness amid President Trump's drug pricing executive order.

The U.S. Centers for Medicare &amp; Medicaid Services (CMS) on Monday issued a draft guidance for public comment on the third cycle of negotiations under the Medicare Drug Price Negotiation Program (Negotiation Program) to <a target="_blank" href="https://www.benzinga.com/25/05/45234032/fda-expands-surprise-inspections-at-foreign-drug-and-food-facilities-targets-double-standards-in-overseas-manufacturing-oversight" rel="noreferrer noopener">lower prescription drug prices</a>.
The draft guidance introduces new policies that would, for the first time, include drugs covered under Medicare Part B in the Medicare <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">Drug Price Negotiation Program</a>.
The <a target="_blank" href="https://www.cms.gov/newsroom/press-releases/cms-releases-draft-guidance-third-cycle-medicare-drug-price-negotiation-program-lower-drug-prices" rel="noreferrer noopener">guidance</a> also explains how CMS plans to renegotiate prices for some drugs already negotiated for 2026 or 2027.
It clarifies how drugmakers must make the negotiated prices available in those years and extends similar rules for Part D drugs through 2028.
The first round of negotiations, covering 10 Part D drugs, ended in August 2024. A second round, <a target="_blank" href="https://www.benzinga.com/25/01/43062779/popular-ozempic-wegovy-selected-for-next-round-of-medicare-drug-price-negotiations" rel="noreferrer noopener">involving 15 more Part D drugs</a>, is currently underway.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/health-care/25/05/45341590/trumps-drug-pricing-executive-order-could-rattle-pharma-stocksprice-cuts-up-to-80" rel="noreferrer noopener">Trump&#8217;s New Drug Pricing Executive Order Could Rattle Pharma Stocks, With Price Cuts Of Up To 80%: Novo Nordisk, Pfizer And J&amp;J Fall In Premarket</a>
By Feb. 1, 2026, CMS will announce up to 15 additional drugs, covered under either Part D or Part B, for possible negotiation in the third round. Negotiations for this third group will happen in 2026, with new prices taking effect Jan. 1, 2028.
On the same date, CMS will publish the list of drugs selected for initial price negotiations for 2028 and announce any drugs picked for a first round of renegotiation. Those updated prices will also start on January 1, 2028.
CMS invites the public to comment on this draft guidance, including the drug selection process, how negotiated prices are implemented, and ways to improve the program.
The public comment period is open for 45 days. Comments must be submitted by June 26.
Goldman Sachs analyst Asad Haider says investors are concerned about fixed-combination drugs. The draft points out cases where one ingredient affects how the drug is absorbed but doesn&#8217;t treat the disease itself. This has led to worries that some subcutaneous (SC) versions of drugs that IV originally gave might be included in Medicare price negotiations under the Inflation Reduction Act (IRA) earlier than expected.
The prior CMS guidance issued under the Biden Administration suggested that sub-q formulations of IV drugs could be excluded from IRA price negotiations.
Stocks of companies with key SC drugs in focus, Johnson &amp; Johnson&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) Darzalex Faspro, Bristol-Myers Squibb &amp; Co&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Opdivo Qvantig, and Merck &amp; Co Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) subcutaneous pembrolizumab/Keytruda (in development), are trading lower.
&#8220;At a higher level, we view this development as another aspect of policy uncertainty that continues to persist, in addition to the Most Favored Nation Executive Order and potential for tariffs&#8230;In our view, this underscores a need for the industry to pursue novel innovations over incremental life cycle management strategies — a dynamic which we believe could lead to increased M&amp;A activity,&#8221; analyst Haider writes.
Price Action: JNJ stock is down 1.45% at $146.30, BMY stock is down 2.64% at $45.38, and MRK stock is down 2.46% at $74.74&nbsp;at the last check on Wednesday.
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CMS Expands Medicare Drug Price Talks To Part B Meds In 2026 Shake Up

Bristol-Myers Squibb &amp; Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) has agreed to pay $350 million to the State of Hawaii to settle claims related to the prescription drug Plavix, an antiplatelet drug that prevents blood clots by keeping platelets in the blood from coming <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">together and making clots</a>.
The agreement resolves a lawsuit filed by the state that alleged the pharmaceutical company engaged in deceptive practices surrounding the development, labeling, and marketing of the drug.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/04/44986472/bristol-myers-delivers-upbeat-2025-forecast-after-beating-q1-wall-street-expectations-says-guidance-includes-china-tariffs-impact" rel="noreferrer noopener">Bristol Myers Delivers Upbeat 2025 Forecast Despite China Tariffs Impact</a>
Hawaii Attorney General Anne Lopez announced the settlement on Friday. It represents a full and final resolution of the state's claims against Bristol-Myers Squibb.
A similar <a href="https://ag.hawaii.gov/wp-content/uploads/2025/05/Settlement-Agreement-Plavix-HI-v-Bristol-Myers-Squibb-final-execution-copy.docx.pdf" target="_blank" rel="noreferrer noopener">agreement</a> has also been executed with Sanofi SA&#8216;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNY#NASDAQ">SNY</a>) Sanofi U.S., which co-marketed Plavix and will pay an identical settlement amount.
However, each agreement stands independently, and obligations between the state and each company are separate.
Under the terms of the settlement, Bristol-Myers Squibb will transfer the full amount to Baron &amp; Budd, the law firm representing the state, by June 9, 2025.
In exchange, the state will dismiss its case against the company with prejudice and release all claims related to Plavix.
This includes any potential claims over the drug&#8217;s labeling, promotion, pricing, reimbursement, and distribution.
Bristol-Myers Squibb has denied any wrongdoing or liability in the case. The company emphasized that the payment is not an admission of fault but rather a strategic move to avoid prolonged litigation and its associated costs.
According to the company, the amount paid qualifies as restitution or remediation under federal tax law.
Price Action: BMY stock is down 2.69% at $46.89&nbsp;at the last check on Tuesday.
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</ul>
Photo: Shutterstock

Legal

Bristol-Myers Squibb Strikes $350 Million Deal To End Hawaii's Plavix Lawsuit

Shares of pharmaceutical stocks are trading lower amid President Trump's drug pricing executive order.

The U.S. Food and Drug Administration (FDA) on Monday cleared the amendment to Lantern Pharma Inc.&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LTRN#NASDAQ">LTRN</a>) Investigational New Drug (IND) application for the Phase 1b/2 trial of LP-184 in a genomically defined patient population of non-small <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">cell lung cancer (NSCLC)</a>.
The biomarker-focused Phase 1b/2 trial is designed to target high-risk NSCLC subtypes by evaluating LP-184 in combination with Bristol-Myers&nbsp;Squibb &amp; Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) immune checkpoint inhibitors, Opdivo (nivolumab) and Yervoy (ipilimumab) in patients with advanced NSCLC harboring KEAP1 and/or STK11 mutations and low PD-L1 expression.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/biotech/25/05/45192281/exclusive-lantern-advances-breast-cancer-drug-candidate-with-fda-clearance-for-early-stage-trial" rel="noreferrer noopener">EXCLUSIVE: Lantern Advances Breast Cancer Drug Candidate With FDA Clearance For Early-Stage Trial</a>
The study is designed to assess safety, preliminary efficacy, and biomarker correlations, potentially paving a path toward accelerated development.
Lantern Pharma expects to prepare an application for a Fast Track or Accelerated Approval Designation for this patient population based on data from the planned trial and ongoing analysis from existing models.
The company said the median overall survival for newly diagnosed, advanced NSCLC with KEAP1 and/or STK11 mutations treated with checkpoint inhibitors and chemotherapy is estimated to be 15 months, and this population presents an annual market opportunity of over $2 billion.
In December 2024, the FDA granted Fast Track Designation for LP-184 for Triple-Negative Breast Cancer (TNBC). This marked the second Fast Track Designation received for LP-184 in 2024, following its designation <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/b42287903/lantern-pharmas-investigational-drug-candidate-lp-184-receives-second-fast-track-designation-from-" rel="noreferrer noopener">for Glioblastoma in October</a>.
LP-184 has demonstrated significant preclinical efficacy in TNBC models, including those resistant to PARP inhibitors, and recent data shows promising synergy with checkpoint inhibitors in TNBC.
In November 2024, Lantern Pharma and its wholly-owned subsidiary Starlight Therapeutics announced the presentation of new preclinical data and Phase 1b trial design for <a target="_blank" href="https://www.benzinga.com/pressreleases/24/11/b42189336/lantern-pharma-starlight-therapeutics-present-lp-184-star-001-phase-1b-trial-design-and-preclinica" rel="noreferrer noopener">LP-184 in glioblastoma</a>.
Following the determination of the Maximum Tolerated Dose and/or Recommended Phase 2 Dose from the ongoing Phase 1a study, Starlight Therapeutics plans to initiate a Phase 1b trial evaluating LP-184/STAR-001 in two cohorts of recurrent GBM patients: one arm anticipates administration of STAR-001 as monotherapy and the other arm anticipates administration of STAR-001 in combination with spironolactone (200 mg daily).
The trial will assess safety, pharmacokinetics, and objective response using RANO 2.0 criteria. Additionally, the study will evaluate biomarkers, including PTGR1 expression, ERCC3 levels, and DNA damage markers, to help identify patients most likely to respond to treatment.
Price Action: LTRN stock traded lower by 3.02% to $3.86 premarket at the last check on Monday.
Read Next:
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<li><a href="https://www.benzinga.com/markets/equities/25/05/45336122/trump-eyeing-nuclear-deal-with-saudi-arabia-china-and-russia-watch-closely" target="_blank" rel="noreferrer noopener">Trump Eyeing Nuclear Deal With Saudi Arabia? China and Russia Watch Closely</a></li>
</ul>

Market-Moving Exclusives

Exclusives

LTRN

EXCLUSIVE: FDA Clears Lantern Pharma's Planned Phase 1b/2 Trial of LP-184 In Treatment-Resistant Lung Cancer Patients

The Founder, CEO, and CIO of Ark Invest, Cathie Wood, has highlighted the rising applications of artificial intelligence and how it is poised to impact not only autonomous taxi networks and humanoid robots but also the health care space.
What Happened: According to ARK's proprietary Multiomics Flywheel, Wood highlighted in her recent X post that autonomous taxi networks and humanoid robots are likely to be the largest AI applications during the next five and ten years, respectively; however, &#8220;health care is likely to be the most profound.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
<div class="wp-block-embed__wrapper">
<blockquote class="twitter-tweet" data-width="500" data-dnt="true">While autonomous taxi networks and humanoid robots are likely to be the largest <a href="https://twitter.com/hashtag/AI?src=hash&amp;ref_src=twsrc%5Etfw">#AI</a> applications during the next five and ten years, respectively, health care is likely to be the most profound. Thank you <a href="https://twitter.com/NMDespotARK?ref_src=twsrc%5Etfw">@NMDespotARK</a> for thought leadership in the multiomics space! <a href="https://t.co/C33JfypivU">https://t.co/C33JfypivU</a>
&mdash; Cathie Wood (@CathieDWood) <a href="https://twitter.com/CathieDWood/status/1921291392271167893?ref_src=twsrc%5Etfw">May 10, 2025</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
The post shared by Ark&#8217;s multiomics analyst, Nemo M Despot, underscored that &#8220;AI is powering a self-reinforcing loop that accelerates every aspect of multiomics—from generating biological data, to diagnosing diseases, to developing new drugs and cures.&#8221;
Multiomics is a biological analysis approach that integrates data from multiple &#8220;omic&#8221; fields, like genomics, transcriptomics, proteomics, and metabolomics, to gain an understanding of biological systems.
This integrated approach helps researchers uncover complex relationships, identify biomarkers, and ultimately understand the mechanisms behind disease and other biological processes.
He also highlights that companies like Twist Bioscience Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWST#NASDAQ">TWST</a>), Tempus AI Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TEM#NASDAQ">TEM</a>), 10X Genomics Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXG#NASDAQ">TXG</a>), and Illumina Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ILMN#NASDAQ">ILMN</a>) are developing increasingly powerful tools to sequence and analyze DNA faster and more cost-effectively.
Despot stated that AI-powered molecular diagnostics are transforming early disease detection and enabling precise stratification of individual patient biological profiles.
&#8220;AI leverages data from multiomic tools and diagnostics to design more effective drugs, delivering results with higher success rates more quickly and less expensively,&#8221; he said.
According to him, these next-generation therapies are:
<ul class="wp-block-list">
<li>Approximately 20 times more valuable than standard drugs.</li>
</ul>
<ul class="wp-block-list">
<li>Two to four times more effective than even today's best-in-class precision medicine.</li>
</ul>
<ul class="wp-block-list">
<li>The new cures can address even rare diseases economically.</li>
</ul>
See Also: <a href="https://www.benzinga.com/government/regulations/25/05/45340465/bill-ackman-slams-subsidies-for-contributing-to-37-trillion-national-debt-hails-trumps-drug-price-order">Bill Ackman Slams Subsidies For Contributing To $37 Trillion National Debt, Hails Trump&#8217;s Drug Price Order</a>
Why It Matters: Trump, in a Truth Social post, said that he will <a href="https://www.benzinga.com/general/health-care/25/05/45339399/trump-says-prescription-drug-prices-set-to-drop-by-30-to-80-almost-immediately-thanks-to-most-favored-nation-plan-mark-cuban-urges-president-to-force-tran">sign an executive order</a> on Monday at 9:00 a.m. ET, which will lead the prescription drug and pharmaceutical prices to drop by 30% to 80%.
&#8220;They will rise throughout the World in order to equalize and, for the first time in many years, bring FAIRNESS TO AMERICA! I will be instituting a MOST FAVORED NATION'S POLICY whereby the United States will pay the same price as the Nation that pays the lowest price anywhere in the World,&#8221; he added.
Trump also believes that healthcare costs in the U.S. will be reduced after this move, and it would save &#8220;trillions of dollars.&#8221;
This action by Trump is anticipated to most significantly <a href="https://www.benzinga.com/general/health-care/25/05/45341590/trumps-drug-pricing-executive-order-could-rattle-pharma-stocksprice-cuts-up-to-80">affect Medicare Part B drugs</a>, primarily outpatient prescriptions and biological products, as their prices are directly controlled by the Centers for Medicare &amp; Medicaid Services (CMS).
<figure class="wp-block-table is-style-stripes"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th>Drug Name</th>
<th>Manufacturer(s)</th>
<th>Total Spending</th>
<th>Primary Use</th>
</tr>
</thead>
<tbody>
<tr>
<td>Keytruda</td>
<td>Merck &amp; Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>) 
<path d="M12 8c1.1 0 2-.9 2-2s-.9-2-2-2-2 .9-2 2 .9 2 2 2zm0 2c-1.1 0-2 .9-2 2s.9 2 2 2 2-.9 2-2-.9-2-2-2zm0 6c-1.1 0-2 .9-2 2s.9 2 2 2 2-.9 2-2-.9-2-2-2z"></path>
<div jsname="ntFePb" class="GRl5yb a8pxAe" style="max-height: 120px; visibility: inherit;"></div>
<div></div>
</td>
<td>$4.0B</td>
<td>Cancer (various types)</td>
</tr>
<tr>
<td>Eylea</td>
<td>Regeneron Pharmaceuticals Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>)</td>
<td>$3.4B</td>
<td>Macular degeneration</td>
</tr>
<tr>
<td>Prolia/Xgeva</td>
<td>Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td>$2.1B</td>
<td>Osteoporosis, bone metastases</td>
</tr>
<tr>
<td>Opdivo</td>
<td>Bristol-Myers Squibb Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>)</td>
<td>$2.0B</td>
<td>Cancer (various types)</td>
</tr>
<tr>
<td>Darzalex</td>
<td>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td>$1.9B</td>
<td>Multiple myeloma</td>
</tr>
<tr>
<td>Avastin</td>
<td>Roche Holdings AG&nbsp;(OTCQX:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTCQX">RHHBY</a>)</td>
<td>$1.8B</td>
<td>Cancer (various types)</td>
</tr>
</tbody>
</table>
</figure>
Price Action: The SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) and Invesco QQQ Trust ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>), which track the S&amp;P 500 index and Nasdaq 100 index, respectively, rose in premarket on Monday. The SPY was up 2.78% to $564.34, while the QQQ advanced 3.75% to $506.26, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a> data.
On Friday, the SPY was down 0.13% to $564.34, while the QQQ declined 0.066% to $487.97
Read Next:
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</ul>
Photo Courtesy: PeopleImages- Yuri A On Shutterstock

Equities

Market Summary

Broad U.S. Equity ETFs

Futures

ETFs

ILMN

TWST

Cathie Wood Says AI Innovation In Healthcare Will Be More 'Profound' Than Autonomous Taxi Networks, Humanoid Robots

On Sunday, President Donald Trump announced on Truth Social that he plans to sign what he called the &#8220;<a href="https://www.benzinga.com/general/health-care/25/05/45339399/trump-says-prescription-drug-prices-set-to-drop-by-30-to-80-almost-immediately-thanks-to-most-favored-nation-plan-mark-cuban-urges-president-to-force-tran">most consequential executive order</a>&#8221; in U.S. history, aimed at lowering prescription drug prices.
What Happened: Trump said the executive order, set to be signed at 9 a.m. Monday, will implement a &#8220;Most Favored Nations&#8221; policy requiring pharmaceutical companies to charge U.S. consumers no more than the lowest price they offer for the same drug in any other country.
See More: <a href="https://www.benzinga.com/25/05/45338985/trump-reportedly-set-to-accept-flying-palace-from-qatar-white-house-says-lavish-gift-of-boeing-jumbo-jet-complies-with-all-applicable-laws">Trump Reportedly Set To Accept &#8216;Flying Palace&#8217; From Qatar, White House Says Lavish Gift Of Boeing Jumbo Jet Complies With &#8216;All Applicable Laws&#8217;</a>
Accusing pharmaceutical companies of overcharging American consumers, sometimes &#8220;five to ten times more&#8221; than patients in other countries, Trump slammed political opponents for enabling the status quo all these years.
Trump says that prescription drug prices will be reduced by &#8220;30% to 80%,&#8221; while rising throughout the world, to equalize and &#8220;bring fairness to America.&#8221;
Why It Matters: This move is expected to have the biggest impact on Medicare Part B drugs, which mainly constitute outpatient prescriptions and biologicals, the prices for which are directly managed by the Centers for Medicare &amp; Medicaid Services (CMS).
<figure class="wp-block-table"> 
<table class="has-fixed-layout">
<thead>
<tr>
<th class="has-text-align-center" data-align="center">Drug Name</th>
<th class="has-text-align-center" data-align="center">Manufacturer(s)</th>
<th class="has-text-align-center" data-align="center">Total Spending</th>
<th class="has-text-align-center" data-align="center">Primary Use</th>
</tr>
</thead>
<tbody>
<tr>
<td class="has-text-align-center" data-align="center">Keytruda</td>
<td class="has-text-align-center" data-align="center">Merck &amp; Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MRK#NYSE">MRK</a>)</td>
<td class="has-text-align-center" data-align="center">$4.0B</td>
<td class="has-text-align-center" data-align="center">Cancer (various types)</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Eylea</td>
<td class="has-text-align-center" data-align="center">Regeneron Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) </td>
<td class="has-text-align-center" data-align="center">$3.4B</td>
<td class="has-text-align-center" data-align="center">Macular degeneration</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Prolia/Xgeva</td>
<td class="has-text-align-center" data-align="center">Amgen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMGN#NASDAQ">AMGN</a>)</td>
<td class="has-text-align-center" data-align="center">$2.1B</td>
<td class="has-text-align-center" data-align="center">Osteoporosis, bone metastases</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Opdivo</td>
<td class="has-text-align-center" data-align="center">Bristol-Myers Squibb Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) </td>
<td class="has-text-align-center" data-align="center">$2.0B</td>
<td class="has-text-align-center" data-align="center">Cancer (various types)</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Darzalex</td>
<td class="has-text-align-center" data-align="center">Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>)</td>
<td class="has-text-align-center" data-align="center">$1.9B</td>
<td class="has-text-align-center" data-align="center">Multiple myeloma</td>
</tr>
<tr>
<td class="has-text-align-center" data-align="center">Avastin</td>
<td class="has-text-align-center" data-align="center">Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>)</td>
<td class="has-text-align-center" data-align="center">$1.8B</td>
<td class="has-text-align-center" data-align="center">Cancer (various types)</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">A breakdown of the top Medicare Part B drugs by spending in 2023, based on the latest data shared by the Centers for Medicare &amp; Medicaid Services (CMS).</figcaption></figure>
These are the stocks that are most likely to be hit by this announcement when markets open on Monday, given their sizable exposure to Medicare, especially being classified as Part B. 
According to a report by the Rand Corporation, a California-based policy think-tank, prescription drug prices in the U.S. are, on average, at least 2.78 times higher than other countries.
While Trump&#8217;s move is being criticized by the likes of crypto enthusiast Ed Krassenstein, calling it &#8220;just another Trump lie,&#8221; saying that an executive order can steer Medicare and Medicaid payments, but <a href="https://www.benzinga.com/general/health-care/25/05/45339399/trump-says-prescription-drug-prices-set-to-drop-by-30-to-80-almost-immediately-thanks-to-most-favored-nation-plan-mark-cuban-urges-president-to-force-tran">cannot force manufacturers</a> to cut prices. 
Others, such as billionaire investor Mark Cuban, have come out in support of the move, saying that it can &#8220;force transparency,&#8221; even if the President cannot force price cuts.
Drug pricing disparities have been a point of contention across the political spectrum. Recently, Novo Nordisk A/S&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>) CEO, Lars Fruergaard Jorgensen, <a href="https://www.benzinga.com/general/biotech/24/09/40986953/novo-nordisk-ceo-to-face-senate-scrutiny-over-high-ozempic-and-wegovy-prices-hearing-scheduled-on">faced Senate scrutiny</a> on these vast differences, where he was targeted by Sen.&nbsp;Bernie Sanders&nbsp;(I-Vt.) for the high price of the company&#8217;s diabetes drug, Ozempic. 
<figure class="wp-block-image size-large"><img loading="lazy" decoding="async" width="1024" height="135" src="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM-1024x135.png" alt="" class="wp-image-911404" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM-1024x135.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM-300x40.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM-768x101.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM-1536x202.png 1536w,https://editorial-assets.benzinga.com/wp-content/uploads/2025/05/12033045/Screenshot-2025-05-12-at-1.00.28-PM.png 1594w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
Novo Nordisk shares have an unfavorable price trend in the short, medium, and long term, but how does it compare with peers such as Johnson &amp; Johnson, Amgen, and Roche? Sign up for <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-2#:~:text=Turn%20Market%20Chaos,when%20markets%20rebound">Benzinga Edge</a> to find out.
Meanwhile, Novo Nordisk, Pfizer and J&amp;J were trading at least 3% lower in Monday premarket. 
Photo Courtesy: create jobs 51 On Shutterstock.com
Read More: 
<ul class="wp-block-list">
<li><a href="https://www.benzinga.com/markets/25/05/45339784/mohamed-el-erian-warns-us-china-deal-reveals-americas-fear-of-empty-shelves-as-markets-rally-on-trade-optimism-peter-schiff-skeptical-without-renminbi-revaluation">Mohamed El-Erian Warns US-China Deal Reveals &#8216;America&#8217;s Fear Of Empty Shelves&#8217; As Markets Rally On Trade Optimism, Peter Schiff Skeptical Without Renminbi Revaluation</a></li>
</ul>

Trump's New Drug Pricing Executive Order Could Rattle Pharma Stocks, With Price Cuts Of Up To 80%: Novo Nordisk, Pfizer And J&J Fall In Premarket

Looking into the current session, Bristol-Myers Squibb Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) shares are trading at $47.05, after a 1.20% decrease. Over the past month, the stock decreased by 6.76%, but over the past year, it actually spiked by 4.70%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2025/1746730840_0.png" alt="Past Year Chart" />

<h3>How Does Bristol-Myers Squibb P/E Compare to Other Companies?</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of the 27.17 in the Pharmaceuticals industry, Bristol-Myers Squibb Inc. has a lower P/E ratio of 17.77. Shareholders might be inclined to think that the stock might perform worse than it's industry peers. It's also possible that the stock is undervalued. 

<img src="https://www.benzinga.com/files/images/story/2025/1746730840_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

Intraday Update

A Look Into Bristol-Myers Squibb Inc's Price Over Earnings

TSVT

2seventy Bio Announces Bristol Myers Squibb Will Acquire All Remaining Shares Not Tendered In Offer Through Second-Step Merger At Same Price In Tender Offer Of $5.00/Share

The U.S. Food and Drug Administration (FDA) announced its intent to expand the use of unannounced inspections at foreign manufacturing facilities that produce foods, essential medicines, and other medical products intended for <a target="_blank" href="https://www.benzinga.com/general/health-care" rel="noreferrer noopener">American consumers and patients</a>.
This change builds upon the agency&#8217;s Office of Inspection and Investigations&#8217; Foreign Unannounced Inspection Pilot program in India and China and aims to ensure that foreign companies will receive the same level of regulatory oversight and scrutiny as domestic companies.&nbsp;
&#8220;For too long, foreign companies have enjoyed a double standard—given advanced notice before facility inspections, while American manufacturers are held to rigorous standards with no such warning,&#8221; said FDA Commissioner Martin Makary. &nbsp;
On Tuesday, the FDA <a target="_blank" href="https://www.fda.gov/news-events/press-announcements/fda-announces-expanded-use-unannounced-inspections-foreign-manufacturing-facilities?utm_medium=email&amp;utm_source=govdelivery" rel="noreferrer noopener">said</a> it plans to review and improve its foreign inspection program to ensure it meets the highest standards for oversight. Part of this effort includes making it clear that FDA inspectors should not accept travel-related perks like hotel stays or transportation from the companies they inspect.
Also Read: <a target="_blank" href="https://www.benzinga.com/general/health-care/25/05/45225204/iqvia-beats-q1-earnings-expectations-despite-sector-uncertainty-company-navigating-market-conditions-effectively-says-ceo" rel="noreferrer noopener">IQVIA Beats Q1 Earnings Expectations Despite Sector Uncertainty, Company Navigating Market Conditions &#8216;Effectively&#8217; Says CEO</a>
The FDA conducts about 12,000 inspections annually in the U.S. and 3,000 in other countries. While U.S. companies often get surprise inspections, foreign companies usually receive advanced notice, giving them time to prepare and potentially hide problems.
Still, foreign inspections often reveal serious issues, more than twice as often as domestic ones.
In the U.S., inspections are usually unannounced unless specific programs require advance notice to ensure staff and records are available.
Even then, companies can&#8217;t pick the date or time. The FDA says foreign companies shouldn&#8217;t have that option either.
By shifting to more surprise inspections abroad, the FDA aims to better protect American consumers by catching dishonest practices, like falsifying records or hiding violations, before they cause harm.
The agency can take action against any company that tries to delay, block, or refuse an unannounced inspection.
The update follows President&nbsp;Donald Trump&#8217;s signed executive order on Monday to promote prescription drug manufacturing in the U.S., streamlining the path for companies to build new production sites as potential tariffs on <a target="_blank" href="https://www.benzinga.com/topic/tariffs" rel="noreferrer noopener">imported medicines loom</a>.
The order directs the FDA to reduce the amount of time it takes to approve manufacturing plants in the U.S. by eliminating unnecessary requirements, streamlining reviews, and working with domestic drugmakers to &#8220;provide early support before facilities come online,&#8221; <a target="_blank" href="https://www.whitehouse.gov/fact-sheets/2025/05/fact-sheet-president-donald-j-trump-announces-actions-to-reduce-regulatory-barriers-to-domestic-pharmaceutical-manufacturing/" rel="noreferrer noopener">according</a> to&nbsp;a White House fact sheet.
It also directs the agency to raise inspection fees for foreign manufacturing plants, improve the enforcement of active-ingredient source reporting by overseas producers, and consider publicly listing facilities that don&#8217;t comply.
The White House <a target="_blank" href="https://www.whitehouse.gov/presidential-actions/2025/05/regulatory-relief-to-promote-domestic-production-of-critical-medicines/" rel="noreferrer noopener">estimates</a> that it can currently take five to ten years to build new pharmaceutical manufacturing capacity, which it calls &#8220;unacceptable from a national-security standpoint.&#8221;
<a target="_blank" href="https://www.benzinga.com/markets/25/02/43906811/trump-reportedly-warns-big-pharma-move-manufacturing-to-us-or-face-tariffs" rel="noreferrer noopener">Amid tariff uncertainty</a>, many companies have disclosed a wave of investments in recent months to boost production in the U.S.
<ul>
<li>Eli Lilly And Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LLY#NYSE">LLY</a>) doubled <a href="https://www.benzinga.com/general/biotech/25/02/43982604/eli-lilly-doubles-capital-spending-on-us-drug-manufacturing-with-50-billion-target" target="_blank" rel="noreferrer noopener">domestic medicine production</a>.</li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>) announced it would invest an additional $2 billion in the U.S. over <a href="https://www.benzinga.com/general/health-care/25/04/44995428/thermo-fisher-doubles-down-on-us-manufacturing-in-2b-expansion-plan" target="_blank" rel="noreferrer noopener">the next four years</a>.</li>
<li>Medtech firm Becton, Dickinson, and Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BDX#NYSE">BDX</a>) also announced its intention to invest $2.5 billion in U.S. manufacturing capacity <a href="https://www.benzinga.com/general/health-care/25/05/45140102/potential-tariff-bites-into-becton-dickinson-2025-profit-outlook-company-will-invest-2-5-billion-to-boost-us-manufacturing" target="_blank" rel="noreferrer noopener">over the next 5 years</a>.</li>
<li>Pfizer Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PFE#NYSE">PFE</a>) did not highlight investments in new manufacturing plants; it noted that they already have significant capacity and flexibility to manufacture <a href="https://www.benzinga.com/general/biotech/25/04/45118145/pfizer-ceo-albert-bourla-emphasizes-national-security-in-us-drug-manufacturing" target="_blank" rel="noreferrer noopener">their products in the U.S</a>.</li>
<li>Regeneron Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/REGN#NASDAQ">REGN</a>) seeks to nearly double its manufacturing capacity through a new agreement with <a href="https://www.benzinga.com/general/biotech/25/04/44931246/regeneron-partners-with-japan-based-fujifilm-to-bolster-us-manufacturing-capacity-via-3-billion-deal" target="_blank" rel="noreferrer noopener">FUJIFILM Diosynth Biotechnologies</a>.</li>
<li>Novartis AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVS#NYSE">NVS</a>) unveiled a sweeping $23 billion investment plan to expand its manufacturing and research infrastructure in the U.S. <a href="https://www.benzinga.com/general/biotech/25/04/44761201/novartis-commits-23-billion-to-expand-us-manufacturing-over-five-years-despite-tariffs-uncertaint" target="_blank" rel="noreferrer noopener">over the next five years</a>.</li>
<li>Johnson &amp; Johnson (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JNJ#NYSE">JNJ</a>) announced its plans to invest more than <a href="https://www.benzinga.com/markets/equities/25/03/44433978/johnson-johnson-to-invest-55-billion-in-us-to-boost-manufacturing-drug-discovery" target="_blank" rel="noreferrer noopener">$55 billion in the U.S. over the next four years</a>.</li>
<li>Roche Holdings AG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/RHHBY#OTC">RHHBY</a>) announced that it will invest $50 billion in the U.S. over <a href="https://www.benzinga.com/topic/pharmaceuticals" target="_blank" rel="noreferrer noopener">the next five years.</a></li>
<li>Most recently, Bristol-Myers Squibb &amp; Co.&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) Christopher Boerner, chair and chief executive officer, <a href="https://www.statnews.com/2025/05/05/bristol-myers-squibb-pharmaceutical-policy-us-trump-administration-innovation-tariffs/" target="_blank" rel="noreferrer noopener">shared</a> plans to invest $40 billion in U.S. R&amp;D, technology, and manufacturing over the next five years in an op-ed published by Stat this week.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/25/05/45195137/footwear-titans-nike-adidas-call-tariffs-an-existential-threat-appeal-to-trump-for-relief-this-is-an-emergency" target="_blank" rel="noreferrer noopener">Footwear Titans Nike, Adidas Call Tariffs An &#8216;Existential Threat&#8217;, Appeal To Trump For Relief: &#8216;This Is An Emergency&#8217;</a></li>
</ul>
Photo by Tada Images via Shutterstock

FDA Expands Surprise Inspections At Foreign Drug And Food Facilities, Targets Double Standards In Overseas Manufacturing Oversight

Press Releases

Bristol Myers Squibb Announces Topline Results from Phase 3 ARISE Trial Evaluating Cobenfy (xanomeline and trospium chloride) as an Adjunctive Treatment to Atypical Antipsychotics in Adults with Schizophrenia

Bristol Myers Squibb Reports First Quarter Financial Results for 2025

Bristol Myers Squibb Appoints Cari Gallman as Executive Vice President, General Counsel and Chief Policy Officer

Bristol Myers Squibb Receives European Commission Approval for Perioperative Regimen of Neoadjuvant Opdivo® (nivolumab) and Chemotherapy Followed by Adjuvant Opdivo for Resectable, High-Risk Non-Small Cell Lung Cancer with PD-L1 Expression ≥1%

Bristol Myers Squibb to Participate in the Bernstein 41st Annual Strategic Decisions Conference

Bristol Myers Squibb to Present Data at ASCO® 2025 Highlighting Differentiated Research Platform of Oncology Treatments and Innovative Research Pipeline

Bristol Myers Squibb Receives European Commission Approval for the Subcutaneous Formulation of Opdivo® (nivolumab) Across Multiple Solid Tumor Indications

Bristol Myers Squibb to Participate in the Goldman Sachs 46th Annual Global Healthcare Conference

BioNTech and Bristol Myers Squibb Announce Global Strategic Partnership to Co-Develop and Co-Commercialize Next-generation Bispecific Antibody Candidate BNT327 Broadly for Multiple Solid Tumor Types

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