Bristol Myers Squibb's CEO Chris Boerner announced Cobenfy, a groundbreaking drug approved by the FDA to treat psychiatric disorders like schizophrenia. Cobenfy offers comparable effectiveness to existing medications but with a significantly reduced side effect profile, addressing a major challenge faced by patients. Boerner highlighted positive feedback from doctors and patients regarding Cobenfy's ability to manage symptoms and cognitive impairments. The company is also exploring Cobenfy's potential applications in treating mania associated with bipolar disorder and psychosis in Alzheimer's patients.
Bristol Myers Squibb CEO Chris Boerner described his company's new drug, Cobenfy, which can be used to treat psychiatric disorders like schizophrenia.
He said the treatment is effective but doesn't carry the serious side effects of other traditional medications. The Food and Drug administration approved Cobenfy in September of 2024, and it is the first new type of treatment for the disorder in decades.CEO Chris Boerner described his company's new drug, Cobenfy, which can be used to treat psychiatric disorders like schizophrenia, saying the treatment is effective without the serious side effects of other traditional medications.
Schizophrenia is a debilitating mental illness that can cause hallucinations, delusions, paranoia and other emotional and behavioral issues. Many existing drugs that treat the condition come with side effects that lead patients to stop taking them, including weight gain and fatigue.
Boerner also addressed concerns about upcoming patent expirations the company currently faces, which would likely lead to revenue losses. He said Bristol Myers has a"young portfolio growing assets," as well as"a string of new catalysts that are going to have data coming out over the next 18 to 24 months." He also said the company is in a strong financial position that allows it to continue to provide shareholders with"an attractive dividend.
PHARMACEUTICALS SCHIZOPHRENIA MENTAL HEALTH DRUG APPROVAL CLINICAL TRIALS
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