Why I Think Bristol Myers Squibb Is Too Cheap to Miss

For investors in pharmaceutical companies, few things are more concerning than a loss of market share, particularly if it's because of the patent expiration of a blockbuster drug. Bristol Myers Squibb (NYSE: BMY) is currently tackling just such issues, with its lead immuno-oncology drug, Opdivo, taking a beating from Merck's (NYSE: MRK) market-leading immuno-oncology drug, Keytruda, across multiple cancer indications. Keytruda managed to secure approval from the U.S. Food and Drug Administration (FDA) ahead of Opdivo in the advanced melanoma indication in 2014, but success in the advanced non-small cell lung cancer (NSCLC) market catapulted Opdivo ahead of Keytruda in 2015.