Bristol-Myers Trails U.S. Rivals as Promising Drugs Fade

http://www.bloomberg.com/news/2012-10-15/bristol-myers-trials-u-s-rivals-as-promising-drugs-fade.html

Bristol-Myers Squibb Co. (BMY) is the only U.S. drugmaker among the top 12 to decline in trading this year, and investors and analysts say they don’t expect a comeback in 2012 because of drug pipeline setbacks. 

Bristol-Myers has fallen 6.1 percent this year through Oct. 12, while the Standard & Poor’s 500 Pharmaceutical Index has surged 13 percent. For the New York-based company, the drop is a stark contrast to 2011, when it rode the promise of new products for cardiovascular disease, hepatitis C and cancer to a 33 percent increase that led the industry.