The article favors Pfizer for long-term investors, citing its $10 billion Metsera deal and obesity pipeline; it sees Bristol Myers Squibb as stronger near term after raising its full-year revenue outlook and reporting growth in newer brands and Eliquis.
Both companies face patent-related revenue pressure. Bristol Myers Squibb also faces government pricing controls and litigation, while Pfizer must offset declining COVID-19 product sales and other patent expirations by delivering on its oncology and obesity programs. The article says several Pfizer clinical-trial results are expected within 12 months, and management has pledged to protect and grow the dividend.
In FY2025, Pfizer reported $62.6 billion in revenue, down 1.6%, and $7.8 billion in net income; Bristol Myers Squibb reported $48.2 billion in revenue, down 0.2%, and $7.1 billion in net income. Their forward P/E ratios were 9.3x and 9.1x, respectively, while price-to-sales ratios were 2.5x and 2.7x, according to Financial Modeling Prep.
