Bristol-Myers Squibb (BMY US) US
Healthcare
Following Bayer’s full Phase 3 FXIa stroke readout, the market appears to be positioning BMY/Johnson & Johnson's milvexian as a structurally disadvantaged, late entrant. The central debate is whether differentiation remains plausible or whether share is effectively locked. Foveal's work suggests the probability of clinically meaningful separation is not being fully reflected in positioning, creating asymmetric equity implications across both sponsors in a multi-billion-dollar stroke market, with additional optionality in AF that is currently treated as zero.
Edition: 230
- 20 February, 2026
Litigation Watch: Top focus names for Q3
MDC follows significant legal disputes to provide clients with actionable investment ideas. Focus List situations that they believe may be among the most actionable during Q3 include Burford Capital, Reckitt Benckiser and Bayer. Burford is a UK based litigation funder that has already been awarded a Judgment totalling $16,099,788,293. Now, the challenge is to collect from the Republic of Argentina! Reckitt along with Abbott Laboratories are facing product liability lawsuits in the US regarding baby formula products causing NEC. The next bellwether trial will be in the Diggs Case scheduled to start on Aug 8th. As if Bayer hasn't faced enough toxic tort litigation regarding its Roundup weed killer product, it now faces potential liability for Polychlorinated Biphenyls. The next PCB Trial is scheduled to commence on Sep 8th.
Edition: 215
- 11 July, 2025
Special Sits Idea Forum
MYST’s latest buyside event saw a large group of investors offer a diverse set of ideas spanning various sectors / themes. Stocks highlighted include:
Bayer (BAYN GR) - New management advancing turnaround as litigation resolution approaches. TP €40 (65% upside).
CRH (CRH) - Increased pricing power + Ukraine rebuild opportunity to narrow valuation gap vs. peers. TP $135 (35% upside).
NFI (NFI CN) - Earnings / margins to rebound sharply as production issues ease. TP C$40 (200% upside).
Paramount Global (PARA) - Pending deal approval to trigger “structural bid” from Arbs while streaming business inflects. TP $15 (30% upside).
Parkland (PKI CN) - Substantial SOTP upside amid ongoing strategic alternatives process. TP C$54 (45% upside).
Edition: 207
- 21 March, 2025
Event-Driven Legal℠ investment-research opportunities
MDC follows significant legal disputes to provide clients with actionable investment ideas that tend to be non-correlated with the market. They currently believe that the following companies will likely be involved in significant litigation in 2025 and 2026: Abbott Laboratories, Avadel Pharmaceuticals, Axsome Therapeutics, Bausch Health, Bayer, Burford Capital, Corcept Therapeutics, Exelixis, GSK, Harmony Biosciences, Johnson & Johnson, Liquidia, Live Nation, Reckitt and Sotera Health.
Edition: 205
- 21 February, 2025