Cramer's Morning Take: Bristol Myers 4/24/25

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Jim Cramer (1:01)

Hey, it's Cramer and this is my Morning Take on the Market from today's CNBC Investing Club Morning Meeting.

David Faber (1:07)

Let's talk Bristol next. Not exactly as clear a cut of a bottle like we're saying with Dover. They did beat though. It was a good quarter. They beat on revs. They beat on earnings.

Jim Cramer (1:15)

They beat on old drugs that I didn't want. I wanted to know new drugs.

David Faber (1:20)

Yeah. Revlimid was a source of the beat. They're at the higher end of the range now.

Currency now having a positive impact too. 500 million more in sales of the legacy portfolio. 250 more on the growth portfolio. Kobenfi was a beat. 27 million looking for around 17 million. But there was 9 million benefit to sales. So people are backing that out and saying not as big of a beat as they would have hoped. They did talk about the trial miss that we talked about yesterday for adjunctive schizophrenia. They're kind of downplaying it. They're pulling out 70 to 80% of the schizophrenia market is monotherapy, so no real risk there. And they don't think the arise, that's the name of the trial, impacts how they're thinking about Alzheimer's disease, psychosis later this year.

Jim Cramer (2:09)

And I know, look, I've got to tell you, I have no tolerance for companies that screw up like this and was a screw up. Their level of confidence is shocking to me.

David Faber (2:21)

Yeah.

Jim Cramer (2:22)

And they seem like good people. So I come back and say, this does not feel like Dan hurt to me where I've totally lost confidence. Does not feel like GE Healthcare where I completely lost confidence. Constellation Brands where I just totally lost confidence. So I want to wait and see. Otherwise, I'm not averse to kicking out something if I thought it was bad. We sold some up here.

David Faber (2:42)

Sure. I mean, it's cheap. It pays a big dividend and because the multiple is so low, if you get any bit of good news, you could really fly.

Jim Cramer (2:49)

Absolutely.

David Faber (2:49)

But again, kind of like we were saying yesterday with Cobenfy, it's a show me story now.

Jim Cramer (2:56)

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