Shares of Bristol-Myers BMY have gained 7.6% in the year so far against the industry’s decline of 2.2%.Image Source: Zacks Investment ResearchThe company, which is one of the leading global specialty biopharmaceutical companies, has had a pretty decent run on the bourses in the first half of 2021 on new drug approvals even as some of the leading established medicines face challenges.Bristol-Myers’ multiple myeloma (MM) drug Revlimid (added with erstwhile Celgene’s acquisition) continues to be the top revenue generator with its solid performance. However, the performance in the first quarter was tepid but the momentum should pick up.Blood thinner drug Eliquis for which the company has a collaboration with Pfizer PFE continues with its stellar performance on sustained demand. Eliquis is the leading oral anti-coagulant drug and the company sees steady growth in both Eliquis brand and the market.The performance of immuno-oncology drug Opdivo, approved for multiple cancer indications, persists to be disappointing as sales face a slowdown. Nevertheless, label expansions for lucrative indications of lung cancer and gastric cancer should somewhat offset this downside.The recent approval of new drugs adds a stream of revenues, which should propel growth in the coming quarters. The FDA recently approved Zeposia (ozanimod) 0.92 mg for the treatment of adults with moderately-to-severely active ulcerative colitis (UC), a chronic inflammatory bowel disease (IBD). This gave a significant boost to the company, given the product’s market potential.The European Commission granted full Marketing Authorization to Onureg (azacitidine tablets) as a maintenance therapy in adult patients with acute myeloid leukemia (AML).In March, the company and partner bluebird bio, Inc. BLUE obtained the FDA approval for Abecma (idecabtagenevicleucel; ide-cel) as the first B-cell maturation antigen (BCMA)-directed chimeric antigen receptor (CAR) T cell immunotherapy for the treatment of adult patients with relapsed or refractory multiple myeloma. The Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) gave a positive opinion recommending the approval of Abecma.The company recently announced a global strategic collaboration agreement with Eisai to co-develop and co-commercialize MORAb-202, an antibody drug conjugate (ADC).Its performance in the second half of the year should improve with revival in demand for legacy drugs and incremental revenues derived from new approvals.Bristol-Myers currently carries a Zacks Rank #3 (Hold). A better-ranked stock in the health care sector is Repligen Corporation RGEN, which presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Repligen’s earnings estimates for 2021 have increased to $2.26 from $1.91 in the past 90 days. The stock has rallied 7.8% year to date.Breakout Biotech Stocks with Triple-Digit Profit PotentialThe biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.See these 7 breakthrough stocks now>> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Bristol Myers Squibb Company (BMY): Free Stock Analysis Report Pfizer Inc. (PFE): Free Stock Analysis Report Repligen Corporation (RGEN): Free Stock Analysis Report bluebird bio, Inc. (BLUE): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research