FDA Approves New Drug by Bristol Myers and Pfizer (PFE, BMY)

FDA Approves New Drug by Bristol Myers and Pfizer (PFE, BMY)

RSS

On Friday the Federal Drug Administration approved a new anticlotting drug developed by Bristol Myers Squibb Co. (BMY), which makes the drug, and Pfizer Inc. (PFE), which will help market it.

The new drug, Eliquis, has been highly anticipated by cardiologists as an alternative to current drugs on the market. Eliquis will be used to reduce the risk of stroke and dangerous blood clots in people with a common heart arrhythmia, atrial fibrillation.

The new drug will compete with a current popular drug on the market warfarin, known by the brand name Coumadin. Insiders are excited for alternative to Coumadin, which requires more careful monitoring. BMY and PFE issued a statement in November suggesting that Eliquis is the only drug in various test groups that has shown an advantage to Coumadin in reducing the risk of strokes and blood clots, major bleeding, and death.

The marketing challenge now facing Bristol Myers and Pfizer is to make Eliquis the drug of choice to treat people with atrial fibrillation. However, BMY and PFE both believe that this new drug will be a blockbuster

Bristol Myers share were up +2.51% in morning trading on Monday while Pfizer shares were up +0.24%.

The Bottom Line
We have been recommending shares of Bristol Myers Squibb (BMY) since Aug.25, 2009, when the stock was trading at $22.58. The company has a 4.39% dividend yield, based on Friday’s closing stock price of $31.90. We have been recommending shares of Pfizer (PFE) since Mar.2, 2012, when the stock was trading at $21.49. The company has a 3.89% dividend yield, based on Friday’s closing stock price of $24.70.

Bristol Myers Squibb Co. (BMY) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars. Pfizer Inc. (PFE) is recommended at this time, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.

Free Updates

Join over 100,000 investors who get the latest news from Dividend.com.

Best Dividend Stocks

Looking for stocks that are poised for growth and pay solid dividends? Visit our list of the:

Best Dividend Stocks

Partner Center

Best CD Rates

Sitting on some extra cash and looking for the most current and profitable CD Rates?

Get The Best CD Rates

14 Day Free Trial

Earn more from your dividend portfolio within the next 14 days.

Sign Up Today