Bristol-Myers Squibb faces potential carnage, as milvexian trial becomes critical

H.C. Wainwright analysts highlighted intense pressure on Bristol-Myers Squibb regarding its upcoming milvexian clinical trial. This oral FXIa inhibitor trial gained importance after reported merger talks with AstraZeneca collapsed. Investors previously viewed the merger as a potential remedy for the company's growth issues.

Bristol-Myers Squibb faces a significant patent cliff through 2031. Approximately 80% of the current revenue base will face generic or biosimilar competition by that date.

Success for the milvexian trial remains essential to offset revenue losses from blockbuster drugs. Analysts warn that a trial failure could leave the company vulnerable as a takeover target.