Bristol-Myers Squibb ($BMY) may be facing challenges now, but in 2016, it'll be on top. At least that's the prediction of CEO Lamberto Andreotti (photo), who told the Goldman Sachs Healthcare Conference that, after 2015, BMS's growth will outstrip every other company in the industry.
In the meantime, however, results won't be so rosy, Andreotti said. Its blockbuster blood thinner Plavix is soon to go off patent, and generic competition will likely bleed away much of its $6 billion in revenue. And that competition could come as early as November.
New drugs will breath new life into the company's income statement, however, Andreotti said, including another clot-buster drug, apixaban. The company will emerge with "great fundamentals," and after 2015, will deliver growth "better than anybody else can deliver," he predicts. We'll have to wait five years to find out whether he's right.
- read the Reuters piece