BMY/JNJ do not consider Abelacimab direct competition for Milvexian. Abelacimab is not oral, and its phase-3 program is targeting a niche market (Cancer Associated Thrombosis).
Bayer presumably has the same viewpoint as BMY/JNJ. although I haven't heard Bayer comment on this first-hand.
“The efficient-market hypothesis may be the foremost piece of B.S. ever promulgated in any area of human knowledge!”