These 2 Pharmas Have Made Their Pipelines a Competitive Advantage

In particular, Bristol-Myers Squibb (NYSE:BMY) and Merck (NYSE:MRK) are especially skilled at using their older products to generate fresh revenue, which is a major competitive advantage. By squeezing every dollar out of their approved medicines, these two companies safeguard themselves against unforeseen delays with their early stage development of new unproven medicines. Let's take a look at how pipeline reinvestment works, and why it matters to investors.