Can BMY develop or buy more "pearls" that it can add to its "string?" We might find out soon when the company presents at the Barclays 2013 Global Health Care Conference on Tuesday, March 12, in Miami.

Michael Giordano, senior vice president and head of Development, Oncology & Immunology, will make a formal presentation about the company at 9:30 a.m. ET. It would not surprise me to hear some encouraging news as to the BMY strategy going forward on filling its pipeline and at the very least sustaining the sales profits at the 2012 levels.

By the end of 2012 BMY had operating cash flow of nearly $7 billion and total cash (most recent quarter) of $2.83 billion. It can generate more revenue with wider distribution of Eliquis, which has been touted as a drug that can prevent strokes. It will be sold in partnership with Pfizer ( PFE).

There are numerous other ways BMY can preserve and grow its triumphant share price including international sales expansions in areas like Asia. The challenges the world faces with diseases like hepatitis C are growing, and by some estimates could eventually present a $5 billion to $10 billion market if aggressively marketed.

In the meantime don't count out the possibility that BMY is already on the radar screen of some cashed-up predators that will pay dearly for its "string of pearls" including the ones in late-stage development.

At the time of publication the author had a position in PFE.

This article was written by an independent contributor, separate from TheStreet's regular news coverage.

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