Will Camzyos' Long-Term Benefits Strengthen BMY's Growth Outlook?

Bristol Myers Squibb’s BMY latest Camzyos (mavacamten) data strengthen the investment case for the drug as a durable growth driver in cardiovascular care.

The company recently presented positive results from the EXPLORER-LTE cohort of the MAVA-LTE study on Camzyos in a late-breaker presentation at the European Society of Cardiology (“ESC”) Congress 2026.

The drug is currently approved in the United States for adults with symptomatic New York Heart Association (“NYHA”) class II-III obstructive hypertrophic cardiomyopathy (oHCM) to improve symptoms and functional capacity.

Five-year results from the EXPLORER-LTE cohort showed that Camzyos continued to deliver meaningful reductions in left ventricular outflow tract (LVOT) obstruction and improvements in symptoms and functional status in patients with symptomatic oHCM.

EXPLORER-LTE is a single-arm, open-label, dose-blinded extension of the phase III EXPLORER-HCM study evaluating the long-term safety and efficacy of Camzyos.

At 252 weeks, Camzyos reduced resting and Valsalva left ventricular outflow tract (LVOT) gradients by 38.7 mm Hg and 55.6 mm Hg, respectively. Nearly 97.4% of patients achieved a Valsalva LVOT gradient of ≤30 mm Hg, while 69.6% improved by at least one NYHA class and 59.2% became asymptomatic. No new safety signals emerged.

The real-world data presented at ESC 2026 further reinforce Camzyos’ effectiveness and safety, suggesting that the benefits observed in clinical trials are translating into routine clinical practice.

With approval in more than 60 countries, Camzyos has established a strong competitive position in the cardiac myosin inhibitor market.

The five-year durability and growing real-world evidence are encouraging for sustained demand and continued revenue contributions from Camzyos, helping BMY diversify beyond its legacy products.

Sales of Camzyos surged 74% year over year to $729 million in the first half of 2026, underscoring the drug’s growing contribution to Bristol Myers Squibb’s cardiovascular franchise and its potential to remain an important growth driver for the company.

Adding to the growth opportunity, the FDA accepted BMY’s supplemental new drug application in June 2026 seeking approval of Camzyos for adolescents aged 12 to under 18 years with symptomatic oHCM. The agency granted Priority Review, with a target action date of Sept. 30, 2026, creating a near-term regulatory catalyst for investors.

The sNDA is supported by data from the late-stage SCOUT-HCM study. If approved, Camzyos would become the first cardiac myosin inhibitor available for adolescents with oHCM, giving BMY an opportunity to expand the drug’s addressable patient population beyond adults.

The growing pipeline of next-generation cardiovascular therapies highlights the need for Camzyos to maintain strong efficacy, safety, market penetration and long-term patient retention as competition intensifies.

BMY’s cardiovascular portfolio also includes blood thinner medicine Eliquis, for which BMY has a worldwide co-development and co-commercialization agreement with pharma giant Pfizer. Eliquis remains one of the biggest contributors to the company’s top line.

BMY’s cardiovascular pipeline includes milvexian, an investigational oral, highly selective factor XIa inhibitor.

Competition for BMY’s Camzyos

Cytokinetics CYTK became a direct competitor to Bristol Myers Squibb in oHCM market after securing FDA approval for Myqorzo (aficamten) in December 2025. As Cytokinetics’ first approved product, Myqorzo marks its transition to a commercial-stage company and gives investors a new challenger in the cardiac myosin inhibitor market.

While Camzyos benefits from an established commercial presence and extensive clinical and real-world data, Myqorzo’s initial uptake has been encouraging and could gradually increase competitive pressure on BMY’s cardiovascular franchise.

CYTK is also looking to expand Myqorzo’s label. Cytokinetics plans to submit a sNDA seeking approval of aficamten in symptomatic non-obstructive hypertrophic cardiomyopathy in the fourth quarter of 2026. A potential approval in nHCM will expand the addressable market.

A potential competitor is Edgewise Therapeutics, Inc. EWTX, which is advancing a cardiovascular pipeline targeting HCM, heart failure, and other cardiovascular and cardiometabolic conditions.

EWTX’s lead candidate, EDG-7500, is a novel, oral, selective cardiac sarcomere modulator currently being studied in a multi-part phase II study in patients with oHCM and nHCM, with a phase III program targeted to be launched in the fourth quarter of 2026.

EWTX’s pipeline also includes EDG-15400 for heart failure. The company expects to initiate a phase II study on EDG-15400 in participants with heart failure with preserved ejection fraction in the second half of 2026.  

BMY’s Price Performance, Valuation & Estimates

Shares of Bristol Myers have gained 20.3% year to date compared with the industry’s 12.2% growth.

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From a valuation standpoint, BMY trades at a discount to the large-cap pharma industry. Going by the price/earnings ratio, its shares currently trade at 10.35X forward earnings, higher than its mean of 8.67X but lower than the large-cap pharma industry’s 18.95X.

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The Zacks Consensus Estimate for 2026 EPS has moved north to $6.86 from $6.32 over the past 30 days, while that for 2027 EPS has inched up to $6.44 from $6.09 in the same time frame.

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BMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.


 

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