Will Positive Camzyos Data Strengthen BMY's Cardiovascular Portfolio?

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

The company recently presented positive results from the late-stage SCOUT-HCM study evaluating Camzyos (mavacamten) in adolescents aged 12 to under 18 years 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.

Camzyos also demonstrated improvements across multiple secondary endpoints at 28 weeks, with a safety profile comparable to placebo.

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. The drug raked in sales of over $1 billion in 2025, soaring 77% year over year.

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 PFE. Eliquis is one of the biggest contributors to the top line.

However, 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.

Both companies 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

In December 2025, Cytokinetics CYTK 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.

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 8% year to date against the industry’s decline of 3.4%.

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From a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, the stock currently trades at 9.41x forward earnings, higher than its mean of 8.51x but lower than the large-cap pharma industry’s 16.74x.

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The Zacks Consensus Estimate for 2026 EPS has moved north to $6.26 from $6.24 in the past 30 days, while that for 2027 has increased to $6.09 from $6.05.

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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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