Today is a good day for Bristol-Myers Squibb (BMY) which is one of my top Blue Chip Growth stocks. The healthcare company reached a deal with Japan’s Otsuka Pharmaceutical to continue selling the antidepressant Abilify in the U.S. until 2015.
BMY brought in nearly $2 billion last year from Abilify. The deal also lets Otsuka sell some of Bristol-Myers’ drugs.
This is great news for Bristol-Myers. The company also reiterated its 2009 EPS forecast of $1.85 to $2.00. Bristol-Myers also said that the new deal with lift profitability in 2013 and 2014. The stock is an outstanding buy.