FDA Earlier Announced Approval Of Bristol-Myers Squibb's Cobenfy With New Mechanism Of Action For Treatment Of Schizophrenia
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The FDA has approved Bristol-Myers Squibb's Cobenfy, a new antipsychotic drug for schizophrenia that targets cholinergic receptors, marking a shift from the traditional dopamine receptor approach.
September 26, 2024 | 11:57 pm
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Bristol-Myers Squibb received FDA approval for Cobenfy, a novel schizophrenia treatment targeting cholinergic receptors, potentially boosting its market position.
The FDA approval of Cobenfy introduces a new mechanism of action in schizophrenia treatment, which could enhance Bristol-Myers Squibb's competitive edge and market share in the antipsychotic drug market. This approval is likely to positively influence BMY's stock price in the short term.
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