Bristol Myers Squibb Trading Volume Plummets to 217th as Cigna Files Antitrust Lawsuit Over Pomalyst Monopoly

On June 25, 2025, Bristol Myers Squibb (BMY) experienced a significant decline in trading volume, with a total of $421 million in shares traded, marking a 38.68% decrease from the previous day. This placed the company at the 217th position in terms of trading volume for the day. The stock price of Bristol Myers Squibb also decreased by 0.74%.

Cigna has filed a lawsuit against Bristol Myers Squibb, alleging that the pharmaceutical company has maintained a monopoly over the multiple myeloma drug Pomalyst. The lawsuit accuses Bristol Myers and its subsidiary Celgene of engaging in fraudulent patent practices, abusing the court system, and making anticompetitive deals to delay the entry of generic competitors. This has resulted in billions of dollars in overcharges to drug purchasers.

The complaint further alleges that Celgene secured method-of-use and formulation patents for pomalidomide by intentionally misleading the U.S. Patent and Trademark Office. The company is also accused of filing a series of sham lawsuits to block potential competitors and making reverse payments to generic manufacturers to delay market entry. These actions have maintained artificially high prices for Pomalyst and Revlimid, two prescription medicines used to treat multiple myeloma.

Cigna's lawsuit claims that Celgene paid generic drugmakers to drop their efforts to challenge patents for the drug pomalidomide and delay launching cheaper versions in the U.S. market. The lawsuit also alleges that Celgene and Bristol Myers delayed generic versions of Pomalyst by offering large payments for related settlements over another drug, Revlimid. The generic launch for Pomalyst is set for the first quarter of 2026, coinciding with the end of the Revlimid restriction.