We buy 300 shares of Bristol-Myers Squibb for about $58 each. After trading on Wednesday, Jim Cramer's Charitable Trust will own 900 BMY shares, increasing its weighting to about 1.5% from 1%. Shares of drugmaker Bristol-Myers have fallen about 3% in the past two days amid a lack of real news. The stock hit a 52-week high on Monday. We are using the decline to move deeper into this recently initiated position. We removed Bristol-Myers from our bullpen watch list on November 25th. Here you can find out what's going on in the company and why we own it. Bristol-Myers is in the midst of a transition under the leadership of CEO Chris Boerner. It tackles one of the pharmaceutical industry's biggest patent cliffs, as key products such as blood clot prevention drug Eliquis and lung cancer treatment Opdivo lose patent protection and face generic competition in the next few years. The loss of patent protection will cause the company's overall revenue to decline by 2029. The market already understands this dynamic well. That's why Bristol-Myers shares currently trade at about eight times the consensus estimate for 2025 earnings per share. What the market is currently underestimating is Cobenfy's sales potential. This drug was acquired last December when Bristol-Myers bought Karuna Therapeutics for $14 billion. This deal was one of many multi-billion dollar acquisitions Bristol Myers made to replenish its pipeline. BMY 5Y Mountain Bristol-Myers Squibb 5 years In September, the FDA approved Cobenfy for the treatment of schizophrenia in adults. It is the first novel drug against the disease in over 30 years. According to JPMorgan analysts, schizophrenia is a market worth more than $20 billion in the United States. We expect Bristol-Myers to dominate in this space after AbbVie's rival drug recently failed in two mid-stage trials. AbbVie's failure gives Cobenfy a clear path to victory in this space. JPMorgan currently estimates annual Cobenfy sales at $5 billion by 2030. But analysts said they wouldn't be surprised to see peak sales in the $10 billion-plus range if the drug were approved for additional indications. The addition of such a potentially large product is a big deal considering Bristol-Myers is expected to generate about $47 billion in sales this year. Bristol-Myers' price-to-earnings ratio should rise again as Cobenfy's sales rise in the coming years – which would ease investors' concerns about the company's growth after the patent cliff. Finally, we like that Bristol-Myers is paying a big dividend while we wait. The stock currently has an annual dividend yield of approximately 4.15%. (Jim Cramer's Charitable Trust is long BMY bond. See a full list of stocks here.) As a subscriber to CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable foundation's portfolio. If Jim discussed a stock on CNBC television, he waits 72 hours after the trade alert is issued before executing the trade. THE INVESTING CLUB INFORMATION SET FORTH ABOVE IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY, ALONG WITH OUR DISCLAIMER. THERE ARE NO fiduciary duty or duty IN RECEIVING YOUR INFORMATION PROVIDED IN CONNECTION WITH THE INVESTMENT CLUB. NO SPECIFIC RESULTS OR PROFITS ARE GUARANTEED.