AbbVie Inc.’s disappointing trial results for its new schizophrenia drug bode well for rival Bristol Myers Squibb Co., analysts said.

Shares of pharma major AbbVie Inc ($ABBV) tumbled over 12% on Monday after the company disclosed that its Schizophrenia drug trial failed to meet their primary endpoint. AbbVie said its two phase 2 EMPOWER trials investigating emraclidine as a once-daily,

AbbVie Inc. shares fell the most in three years after two mid-stage trials of its drug to treat schizophrenia failed to meet their primary goal, a blow to the company’s $8.7 billion acquisition of Cerevel Therapeutics earlier this year.