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Can Camzyos' Growth Offset Bristol Myers' Patent Pressures?
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Key Takeaways
Bristol Myers sees Camzyos sales soar 74% to $729 million in the first half of 2026.
Camzyos won Priority Review for use in adolescents with symptomatic oHCM, with a Sept. 30 FDA date.
Cytokinetics and Edgewise are advancing competing cardiovascular drugs targeting oHCM and other conditions.
Bristol Myers Squibb (BMY - Free Report) is banking on label expansion of existing drugs and approval of new drugs to further propel its growth portfolio.
Camzyos (mavacamten) is one of the key drugs of this product portfolio. The drug is currently approved in the United States for adults with symptomatic New York Heart Association (“NYHA”) class II-III obstructive hypertrophic cardiomyopathy (oHCM) to improve symptoms and functional capacity.
The drug continued to gain traction in the targeted market in the first half of 2026, supported by growing demand and increased adoption among eligible patients. Sales of the drug surged 74% year over year to $729 million in the first half.
In June 2026, the FDA accepted BMY’s supplemental new drug application (sNDA) seeking approval of Camzyos for the treatment of adolescents aged 12 to under 18 years with symptomatic oHCM.
The FDA granted Priority Review to the application with a target action date of Sept. 30, 2026.
The sNDA submission was based on data from the late-stage SCOUT-HCM study.
If approved, Camzyos would become the first cardiac myosin inhibitor available for adolescents with oHCM and expand the drug's addressable market beyond adults.
For Bristol Myers, continued growth from Camzyos is particularly important as the company works to offset revenue pressures from patent expirations affecting legacy drugs.
BMY’s cardiovascular portfolio also includes blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis remains one of the biggest contributors to the company’s top line.
BMY’s cardiovascular pipeline includes milvexian, an investigational oral, highly selective factor XIa (FXIa) inhibitor.
The candidate is being evaluated in two late-stage studies — Librexia AF for atrial fibrillation (AF) and Librexia STROKE for secondary stroke prevention (SSP). Data from the Librexia AF study are now expected in the first quarter of 2027.
Management noted that the study is event-driven and that the revised late-2026 timeline reflects the pace of events.
Data from the LIBREXIA-STROKE study are expected in 2026.
BMY’s cardiovascular portfolio suffered a setback in late 2025 after the company decided to discontinue the late-stage Librexia study on milvexian.
BMY and partner Johnson & Johnson were evaluating the efficacy and safety of milvexian when added to standard of care (conventional antiplatelet therapy) for patients following an acute coronary syndrome event.
Both companies decided to discontinue the phase III Librexia ACS study following a preplanned interim analysis by the Independent Data Monitoring Committee, which determined that the study was unlikely to meet its primary efficacy endpoint.
Competition for BMY’s Cardiovascular Drugs
In December 2025, Cytokinetics (CYTK - Free Report) obtained FDA approval for aficamten for the treatment of patients with obstructive HCM in the United States, under the brand name Myqorzo.
This marks the company’s first FDA-approved product, transforming Cytokinetics from a development-stage biotech into a commercial-stage company.
The approval of Myqorzo is a significant boost for CYTK, given the market potential for the oHCM market. The initial uptake has been strong.
Edgewise Therapeutics, Inc. (EWTX - Free Report) is advancing a cardiovascular pipeline targeting HCM, heart failure, and other cardiovascular and cardiometabolic conditions.
EWTX’s lead candidate, EDG-7500, is a novel, oral, selective cardiac sarcomere modulator currently being studied in a multipart phase II study in patients with obstructive HCM and nonobstructive HCM, with a phase III program targeted to initiate in the fourth quarter of 2026.
EWTX’s pipeline also includes EDG-15400 for heart failure. The company expects to initiate a phase II study on EDG-15400 in participants with heart failure with preserved ejection fraction in the second half of 2026.
BMY’s Price Performance, Valuation & Estimates
Shares of Bristol Myers have gained 25.3% year to date compared with the industry’s 12.6% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, BMY trades at a discount to the large-cap pharma industry. Going by the price/earnings ratio, its shares currently trade at 10.26X forward earnings, higher than its mean of 8.64X but lower than the large-cap pharma industry’s 19.53X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 EPS has moved north to $6.86 from $6.34 over the past 30 days, while that for 2027 EPS has inched up to $6.44 from $6.12 in the same time frame.
View the Zacks #1 Rank List
Image: Shutterstock
Can Camzyos' Growth Offset Bristol Myers' Patent Pressures?
Key Takeaways
Bristol Myers Squibb (BMY - Free Report) is banking on label expansion of existing drugs and approval of new drugs to further propel its growth portfolio.
Camzyos (mavacamten) is one of the key drugs of this product portfolio. The drug is currently approved in the United States for adults with symptomatic New York Heart Association (“NYHA”) class II-III obstructive hypertrophic cardiomyopathy (oHCM) to improve symptoms and functional capacity.
The drug continued to gain traction in the targeted market in the first half of 2026, supported by growing demand and increased adoption among eligible patients. Sales of the drug surged 74% year over year to $729 million in the first half.
In June 2026, the FDA accepted BMY’s supplemental new drug application (sNDA) seeking approval of Camzyos for the treatment of adolescents aged 12 to under 18 years with symptomatic oHCM.
The FDA granted Priority Review to the application with a target action date of Sept. 30, 2026.
The sNDA submission was based on data from the late-stage SCOUT-HCM study.
If approved, Camzyos would become the first cardiac myosin inhibitor available for adolescents with oHCM and expand the drug's addressable market beyond adults.
For Bristol Myers, continued growth from Camzyos is particularly important as the company works to offset revenue pressures from patent expirations affecting legacy drugs.
BMY’s cardiovascular portfolio also includes blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis remains one of the biggest contributors to the company’s top line.
BMY’s cardiovascular pipeline includes milvexian, an investigational oral, highly selective factor XIa (FXIa) inhibitor.
The candidate is being evaluated in two late-stage studies — Librexia AF for atrial fibrillation (AF) and Librexia STROKE for secondary stroke prevention (SSP). Data from the Librexia AF study are now expected in the first quarter of 2027.
Management noted that the study is event-driven and that the revised late-2026 timeline reflects the pace of events.
Data from the LIBREXIA-STROKE study are expected in 2026.
BMY’s cardiovascular portfolio suffered a setback in late 2025 after the company decided to discontinue the late-stage Librexia study on milvexian.
BMY and partner Johnson & Johnson were evaluating the efficacy and safety of milvexian when added to standard of care (conventional antiplatelet therapy) for patients following an acute coronary syndrome event.
Both companies decided to discontinue the phase III Librexia ACS study following a preplanned interim analysis by the Independent Data Monitoring Committee, which determined that the study was unlikely to meet its primary efficacy endpoint.
Competition for BMY’s Cardiovascular Drugs
In December 2025, Cytokinetics (CYTK - Free Report) obtained FDA approval for aficamten for the treatment of patients with obstructive HCM in the United States, under the brand name Myqorzo.
This marks the company’s first FDA-approved product, transforming Cytokinetics from a development-stage biotech into a commercial-stage company.
The approval of Myqorzo is a significant boost for CYTK, given the market potential for the oHCM market. The initial uptake has been strong.
Edgewise Therapeutics, Inc. (EWTX - Free Report) is advancing a cardiovascular pipeline targeting HCM, heart failure, and other cardiovascular and cardiometabolic conditions.
EWTX’s lead candidate, EDG-7500, is a novel, oral, selective cardiac sarcomere modulator currently being studied in a multipart phase II study in patients with obstructive HCM and nonobstructive HCM, with a phase III program targeted to initiate in the fourth quarter of 2026.
EWTX’s pipeline also includes EDG-15400 for heart failure. The company expects to initiate a phase II study on EDG-15400 in participants with heart failure with preserved ejection fraction in the second half of 2026.
BMY’s Price Performance, Valuation & Estimates
Shares of Bristol Myers have gained 25.3% year to date compared with the industry’s 12.6% growth.
Image Source: Zacks Investment Research
From a valuation standpoint, BMY trades at a discount to the large-cap pharma industry. Going by the price/earnings ratio, its shares currently trade at 10.26X forward earnings, higher than its mean of 8.64X but lower than the large-cap pharma industry’s 19.53X.
Image Source: Zacks Investment Research
The Zacks Consensus Estimate for 2026 EPS has moved north to $6.86 from $6.34 over the past 30 days, while that for 2027 EPS has inched up to $6.44 from $6.12 in the same time frame.
Image Source: Zacks Investment Research
BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.