Morgan Stanley Provides Color on Bristol Myers Squibb

Morgan Stanley provided color on Bristol Myers Squibb BMY. In a research report published today, Morgan Stanley commented on the performance of the company's drug dapagliflozin. In the report, Morgan Stanley states, “Dapagliflozin (SGLT2 for diabetes) showed numerically higher bladder and breast cancer rates in clinical trials, and the key question is what regulatory authorities will think. Data presented at ADA over the weekend revealed that there were nine bladder cancers in 5,478 patients on dapagliflozin vs. one bladder cancer in 3,156 patients in control groups and nine breast cancers in 2,223 women on dapagliflozin vs. one in 1,053 women in control groups.” At the moment, Morgan Stanley has an Overweight rating placed on the company's stock. On Friday, BMY lost 1.36% of its value to finish the week at $28.93.