Will Positive Data on Camzyos Strengthen BMY's Cardiovascular Portfolio?

Bristol Myers’ BMY cardiovascular portfolio currently comprises blockbuster drugs Eliquis and Camzyos.

The company recently reported positive top-line results from the late-stage SCOUT-HCM trial, which evaluated Camzyos in adolescents aged 12 to under 18 with symptomatic obstructive hypertrophic cardiomyopathy (oHCM), marking the first study of a cardiac myosin inhibitor (CMI) in this patient population.

The study met its primary endpoint, showing a statistically significant reduction from baseline in the Valsalva left ventricular outflow tract (LVOT) gradient at week 28 versus placebo, demonstrating Camzyos’ effectiveness in alleviating LVOT obstruction. Several secondary endpoints, including measures reflecting clinically meaningful improvements in disease burden, also achieved statistical significance. Safety findings were consistent with the established safety profile of Camzyos observed in adult patients.

These positive data support the potential for Camzyos to be the first CMI for the treatment of adolescent oHCM.

We note that Camzyos is currently approved for the treatment of adults with symptomatic New York Heart Association (NYHA) class II–III obstructive hypertrophic cardiomyopathy to improve functional capacity and symptoms.

A potential approval of Camzyos for a broader patient population should boost sales. 

BMY’s cardiovascular portfolio also comprises blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis is one of the biggest contributors to the top line.

BMY’s cardiovascular portfolio suffered a hit in late 2025 after the company decided to discontinue the late-stage Librexia study on cardiovascular candidate milvexian, an investigational oral, highly selective factor XIa (FXIa) inhibitor.

BMY and partner Johnson & Johnson JNJ were evaluating the efficacy and safety of pipeline candidate milvexian when added to the standard of care (conventional antiplatelet therapy) for patients after a recent acute coronary syndrome (ACS) event.

However, BMY and JNJ decided to discontinue the phase III Librexia ACS study following a preplanned interim analysis by the Independent Data Monitoring Committee (“IDMC”), which determined that the study is unlikely to meet the primary efficacy endpoint.

Nonetheless, the IDMC advised that the two other late-stage studies — Librexia AF for atrial fibrillation (AF) and Librexia STROKE for secondary stroke prevention (SSP) — should proceed as planned. Top-line data from these studies is expected in 2026.

Competition for BMY’s Cardiovascular Drugs

Last month, Cytokinetics CYTK won FDA approval of 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.

JNJ’s Xarelto is also a Factor Xa inhibitor, similar to Eliquis.

However, JNJ is facing patent challenges for Xarelto in the United States.  JNJ co-developed Xarelto with Bayer AG.

BMY’s Price Performance, Valuation & Estimates

Shares of Bristol Myers have gained 20.5% over the past six months compared with the industry’s growth of 23%.

From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, shares currently trade at 9.27x forward earnings, higher than its mean of 8.41x but lower than the large-cap pharma industry’s 17.82x.

The Zacks Consensus Estimate for 2025 EPS is stable at $6.52 in the past 60 days, while that for 2026 has moved north.

BMY currently carries a Zacks Rank #3 (Hold).  You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
 




 

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