A Nudge for the Giants
At the heart of this kerfuffle is a drug called asundexian. In its final, crucial Phase III trial, it reduced the recurrence of strokes by a staggering 26 percent. Now, in medicine, that is not an incremental improvement. That is a game changer. For years, giants like Bristol Myers Squibb have been sitting comfortably on blockbuster drugs like Eliquis, raking in billions. This result abruptly wakes them up. Suddenly, their golden goose looks a little less golden. The market abhors a vacuum, but it dislikes a complacent leader even more. This news forces a reaction, and for investors, that’s where things get interesting.