Deutsche Bank Discusses Apixaban From Bristol-Myers Squibb

Deutsche Bank has a research note on Bristol-Myers Squibb BMY, as it discusses Apixaban. It has a Buy rating and a $31.50 price target on shares. In a note to clients, Deutsche Bank writes, "Xarelto...BI's Pradaxa has superior efficacy to warfarin, but was equivalent on bleeds, while Xarelto was non-inferior on efficacy and bleeds (though better on fatal and intracranial bleeds). The top line results for apixaban reported this evening should support a strong commercial opportunity for apixaban in this large market versus the competition. We reiterate our BUY ratings on BMY and PFE (CP $20.26), and our $1.5 billion estimate for apixaban in 2015." Shares of BMY are up $2.01 in pre-market trading to $29.75, a gain of 7.25%.