Why Bristol-Myers Squibb's Stock is Trading Higher Today

Bristol-Myers Squibb Company BMY shares are trading higher after the company announced the FDA has approved ZEPOSIA, its new oral treatment for relapsing forms of multiple sclerosis.

"With the FDA approval of ZEPOSIA, appropriate patients with relapsing forms of multiple sclerosis will have another oral treatment option with meaningful efficacy to help address the disease's hallmark relapses and brain lesions," said Samit Hirawat, M.D., chief medical officer at Bristol Myers Squibb.

Bristol-Myers Squibb discovers, develops, and markets drugs for various indications, such as cardiovascular, oncology, and immune disorders.

Bristol-Myers Squibb's shares were trading up 4.9% at $51.77 on Tuesday. The stock has a 52-week high of $68.34 and a 52-week low of $42.48.