Bristol-Myers Squibb (BMY) and Pfizer (PFE) Stocks Jump on Eliquis Drug Discount

Bristol-Myers Squibb (BMY) and Pfizer (PFE) have revealed plans to sell their Eliquis blood thinner directly to patients at a discounted price, reports The Wall Street Journal. This move came after discussions with the Trump administration about how to lower the price of drugs. Bristol-Myers Squibb and Pfizer noted that this change will offer a roughly 40% discount over the list price of the blood thinner.

The Eliquis 360 Support website is where patients will be able to head to make direct orders for the blood thinner. The Bristol-Myers Squibb and Pfizer joint venture will also offer copay assistance to customers. Customers who order through this website can get a 30-day supply of the drug for $346, compared to the normal price of $606.

Christopher Boerner, CEO of Bristol-Myers Squibb, told WSJ, “The BMS-Pfizer Alliance is committed to increasing patient access and affordability, which is why we are launching this direct-to-patient offering for Eliquis.”

Bristol-Myers Squibb and Pfizer Stock Movements Today

Shares of Bristol-Myers Squibb and Pfizer were on the move Thursday alongside the Eliquis discount news. BMY stock was up 0.36%, and PFE stock was up 0.1% as of this writing. Both shares initially slipped in pre-market trading when the news first broke. Bristol-Myers Squibb stock has fallen 13.33% year-to-date, compared to a 4.02% drop for PFE.

Bristol-Myers Squibb vs. Pfizer: Which Stock Do Analysts Prefer?

Using the TipRanks stock comparison tool, traders can see which of these two stocks analysts favor. BMY has an analysts’ consensus Hold rating, compared to a Moderate Buy rating for PFE. Both stocks have similar upside potential, with BMY at 16.75% and PFE at 15.51%. They also share a TipRanks Smart Score of eight out of 10.

See more BMY and PFE stock comparisons