Big Pharma Vs. Washington—An Opportunity To Buy Bristol Myers

Warren Buffett states, “Uncertainty is the friend of the buyer of long-term values,” and Washington represents a big question mark these days for the pharmaceutical sector.

After all, news broke a week ago that Bristol Myers Squibb

BMY
had sued Uncle Sam over a Medicare price renegotiation program in the Inflation Reduction Act (IRA) that was passed last August. The pharmaceutical giant’s litigation comes on the heels of similar action from rival Merck & Co.
MRK
, which called the program a “sham” and “extortion.”