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Bristol-Myers Squibb

(BMY) - Get Bristol-Myers Squibb Company Report

moved higher in the premarket session following FDA approval for its schizophrenia treatment Abilify.

The shares were recently up 4.4% to $25.10.

The drug, which will be comarketed with Otsuka, gained conditional FDA approval in September, and will join

Eli Lilly's

(LLY) - Get Eli Lilly and Company Report

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Johnson & Johnson's

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Risperdal and


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Geodon among FDA-approved schizophrenia treatments.

Some analysts think Abilify could eventually bring in $2 billion a year for Bristol-Myers, welcome revenue for a company that has recently struggled with a shrinking new drug pipeline and a regulatory probe of its inventory practices.