AbbVie's loss is Bristol Myers Squibb's gain - analyst
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AbbVie's recent trial failures in its emraclidine schizophrenia treatment have negatively impacted its stock, creating an opportunity for competitor Bristol-Myers Squibb, according to UBS analysts.
November 12, 2024 | 5:00 pm
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NEGATIVE IMPACT
AbbVie faced a significant stock price drop after its Phase 2 trials for emraclidine schizophrenia treatment failed to meet primary endpoints.
The failure of the Phase 2 trials is a direct negative event for AbbVie, leading to a $38 billion market cap loss, indicating a likely short-term decline in stock price.
CONFIDENCE 95
IMPORTANCE 85
RELEVANCE 90
POSITIVE IMPACT
Bristol-Myers Squibb may benefit from AbbVie's trial failures, as analysts suggest it creates a competitive opportunity.
UBS analysts suggest that the failure of AbbVie's trials opens a competitive window for Bristol-Myers Squibb, potentially benefiting its market position.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70