Bristol-Myers Squibb Company (NYSE:BMY) is included among the 11 Defensive Healthcare Dividend Stocks to Buy Now.
On October 14, insitro, a leader in applying machine learning to drug discovery and development, and Bristol-Myers Squibb Company announced the next stage of their partnership focused on discovering new molecules for potential treatments of amyotrophic lateral sclerosis (ALS).
The extended collaboration will use insitro’s AI-powered ChemML platform to design medicines targeting a newly identified ALS-related gene discovered in the earlier research phase. The one-year extension may bring up to $20 million in additional funding, while the total value of the partnership could exceed $2 billion if the project achieves discovery, development, and commercial milestones, alongside royalty payments to insitro.
Financially, Bristol-Myers Squibb Company continues to show solid momentum. The company’s growth portfolio includes at least seven drugs that posted double-digit sales increases in the second quarter. Notably, sales of its cancer therapy Breyanzi more than doubled. The company also remains committed to rewarding shareholders, having raised its dividend for 16 consecutive years. The stock has a dividend yield of 5.69%, as of October 14.
READ NEXT: 11 Low PE High Dividend Stocks to Buy According to Analysts and 12 Reliable Dividend Stocks for Maximum Income.
