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PRINCETON, N.J. - Bristol Myers Squibb (NYSE:BMY), a pharmaceutical giant with $47.6 billion in annual revenue and strong financial health according to InvestingPro analysis, and Pfizer (NYSE:PFE) announced Thursday they will provide a direct-to-patient purchasing option for their anticoagulant medication Eliquis at more than 40% below the current list price.
The program, available through the companies’ Eliquis 360 Support platform, will launch September 8 for eligible uninsured, underinsured, or self-pay patients with an Eliquis prescription.
The service will include direct shipping to patients across all 50 states and Puerto Rico, according to the statement released by the BMS-Pfizer Alliance.
"This program passes more savings directly to patients," said Christopher Boerner, Board Chair and CEO of Bristol Myers Squibb, in the press release.
Eliquis, the most prescribed oral anticoagulant in the United States, is used to reduce stroke risk in patients with atrial fibrillation, treat blood clots, and prevent blood clots after hip or knee replacement surgery. The medication is also approved for treating blood clots in children.
The companies stated that more than 15 million Americans have been prescribed Eliquis since its launch. They claim the medication has resulted in an estimated $3 billion in healthcare cost savings for every 100,000 patients treated through reduced hospitalizations and rehabilitation needs.
Eligible patients can access the program through the Eliquis 360 Support website, which also provides health education and insurance navigation assistance.
The announcement comes amid ongoing national discussions about prescription drug pricing and affordability in the United States. BMY currently offers investors a significant 5.26% dividend yield and appears undervalued according to InvestingPro Fair Value analysis, which includes comprehensive evaluation of the company’s financial metrics and growth potential. For detailed insights and additional ProTips about BMY’s market position and future outlook, investors can access the full Pro Research Report on InvestingPro.
In other recent news, Bristol Myers Squibb reported a strong performance for its CAR T cell therapy, lisocabtagene maraleucel (liso-cel), in treating relapsed or refractory marginal zone lymphoma. According to data from the TRANSCEND FL study, 95.5% of patients achieved a response, with 62.1% reaching a complete response. Additionally, UBS maintained a Neutral rating on Bristol Myers Squibb, projecting second-quarter sales of $3.5 billion for Eliquis and an earnings per share estimate of $1.72, despite anticipated expenses from the BioNTech collaboration. Cantor Fitzgerald also retained its Neutral rating, highlighting the upcoming data for Bristol Myers Squibb’s Alzheimer’s treatment as a significant catalyst. The company declared a quarterly dividend of $0.62 per share, maintaining its consistent payment schedule to shareholders. Furthermore, Bristol Myers Squibb presented promising data from its targeted protein degradation platform at the European Hematology Association Congress, showcasing high response rates for various investigational agents in treating multiple myeloma and non-Hodgkin lymphoma. These developments reflect the company’s ongoing efforts in advancing its treatment portfolio and maintaining shareholder value.
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