BMY

AI Research

FDA approves Sotyktu for PsA + Phase 3 SUCCESSOR-2 positive → BMY pipeline gains UBS upgrade

Bristol-Myers Squibb received FDA approval for Sotyktu (deucravacitinib) for psoriatic arthritis, expanding the drug's label beyond plaque psoriasis and opening a new multi-billion dollar market opportunity. The company reported positive Phase 3 SUCCESSOR-2 trial results for its cardiovascular pipeline asset, and UBS upgraded BMY to Buy with a $70 price target citing improving pipeline visibility. Risks include the Revlimid generic erosion continuing to pressure revenue through 2026 and increasing competition in the immunology space from Pfizer and AbbVie.