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AstraZeneca plc (ADR) (AZN) and Bristol Myers Squibb Co. (BMY): 2 Keys to Success for This Diabetes Drug’s Second Chance

Despite what seems like a soon-to-be crowded market for SGLT2 inhibitors, I think there’s still plenty of room for all. Analysts project near-blockbuster status for all of the drugs, with some seeing even higher potential.

AstraZeneca plc (ADR) (NYSE:AZN) and Bristol Myers Squibb Co. (NYSE:BMY) need a success story with Forxiga, because the patent cliff has taken its toll in recent years. Both companies’ revenue totals in 2012 dropped 17% compared to 2011.

The problem is that even if Forxiga gains FDA approval and competes effectively in the marketplace, it won’t be enough on its own to reverse the downward trend for AstraZeneca plc (ADR) (NYSE:AZN) and Bristol Myers Squibb Co. (NYSE:BMY). Both companies have other pipeline opportunities, but they each need more keys for success than just one or two new drugs.

The article 2 Keys to Success for This Diabetes Drug’s Second Chance originally appeared on Fool.com.

Fool contributor Keith Speights has no position in any stocks mentioned. The Motley Fool recommends Johnson & Johnson. The Motley Fool owns shares of Johnson & Johnson.

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