Drugmaker Bristol Myers Squibb has been a standout among its big pharma peers over the past six months, scoring a share-price gain of more than 20%, while most of the group has been flat or down. Financial results the company reported early Thursday seem to validate that recent performance, but may raise questions about the year to come. “It’s really a tale of two trends,” Bristol CEO Chris Boerner told Barron’s, explaining the 2025 outlook.