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Bristol-Myers Squibb Co. (BMY) is a renowned American multinational pharmaceutical company headquartered in New York City. As one of the largest pharmaceutical companies globally, Bristol-Myers Squibb (BMS) consistently ranks on the Fortune 500 list. In fiscal 2022, the company achieved total revenue of $46.2 billion.
Bristol-Myers Squibb focuses on discovering, developing, and marketing drugs across various therapeutic areas, including cardiovascular, cancer, and immune disorders. A significant area of focus for BMS is immuno-oncology, where it has established itself as a leader in drug development. Approximately 70% of BMS's total sales are derived from the U.S. market, reflecting its higher dependence on this region compared to its peers.
Recent achievements and collaborations highlight BMS's commitment to innovation and partnerships. On May 22, 2024, BMS joined NeoPhore Limited's oversubscribed Series B extension round. This additional investment will enable NeoPhore to explore novel biology associated with the DNA mismatch repair (MMR) pathway in cancer, and further advance its pre-clinical studies. NeoPhore aims to generate next-generation immuno-oncology therapeutics to improve clinical outcomes for cancer patients.
Another noteworthy collaboration was announced on June 5, 2024, with I-Mab, a U.S.-based global biotech company. This partnership will evaluate the combination of givastomig, an investigational Claudin 18.2 x 4-1BB bispecific antibody, with BMS's immune checkpoint inhibitor, nivolumab, and chemotherapy. The study, a multi-national Phase 1, will focus on advanced Claudin 18.2-positive gastric and esophageal cancers. BMS will supply nivolumab, which is designed to enhance T-cell function and improve anti-tumor responses.
Additionally, on June 5, 2024, Envisagenics, an AI-driven biotechnology company, announced a Series B fundraising round with participation from BMS. This funding will be utilized to further develop Envisagenics' pipeline of novel preclinical oncology assets using their cloud-based AI drug discovery platform, SpliceCore®. This collaboration underscores BMS's continued investment in innovative technologies and therapeutics.
Bristol-Myers Squibb's mission is to discover, develop, and deliver innovative medicines that help patients prevail over serious diseases. Through strategic partnerships, cutting-edge research, and a commitment to therapeutic advancements, BMS continues to make significant strides in the biopharmaceutical industry.
The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has recommended approval of Reblozyl (luspatercept) for treating non-transfusion-dependent beta thalassemia in adults. This recommendation will be reviewed by the European Commission, which could lead to its third indication in the EU. The pivotal BEYOND study showed that Reblozyl significantly increased hemoglobin levels in 77% of patients, while serious adverse reactions were lower compared to placebo (11.5% vs. 25%). The EC's decision is expected within 67 days. Approval could enhance BMY's market position in Europe, where beta thalassemia prevalence is high.
Bristol Myers Squibb (NYSE: BMY) announced that the CHMP of the European Medicines Agency has recommended approval for Sotyktu (deucravacitinib) to treat adults with moderate-to-severe plaque psoriasis. This recommendation is based on positive results from Phase 3 POETYK PSO-1 and POETYK PSO-2 trials, demonstrating superior efficacy over Otezla and placebo. If approved, Sotyktu would be the first oral TYK2 inhibitor in the EU. CEO Samit Hirawat emphasized the need for effective oral therapies for patients with psoriasis. The European Commission will review the recommendation for final approval.
Bristol Myers Squibb (NYSE: BMY) announced promising topline results from the TRANSCEND CLL 004 study, a Phase 1/2 trial evaluating Breyanzi for adults with relapsed or refractory chronic lymphocytic leukemia (CLL) and small lymphocytic lymphoma (SLL). The study met its primary endpoint of complete response rate in patients refractory to a BTK inhibitor and treated with a BCL-2 inhibitor. No new safety signals for Breyanzi were reported. The trial represents a significant milestone as it is the first multicenter study exploring CAR T cell therapy for patients with limited treatment options.
Bristol Myers Squibb organized the 2022 C2C4C cycling event, involving over 350 employees from 23 countries who raised more than $2 million for cancer research. The journey covered nearly 7,000 miles through various global locations. Participants, including survivor Blanca Bedoya, emphasized the event's mission beyond cycling, linking personal growth with a commitment to patients. Since its inception in 2014, C2C4C has raised around $14 million for cancer initiatives worldwide. The 10th anniversary is scheduled for next year, emphasizing ongoing support for the cancer community.
Bristol Myers Squibb (NYSE: BMY) will present at J.P. Morgan’s 41st Annual Healthcare Conference on January 9, 2023. The presentation will be led by Giovanni Caforio, M.D., the Board Chair and CEO, at 7:30 a.m. PST / 10:30 a.m. EST. A live webcast will be available at http://investor.bms.com, with additional materials accessible at the start of the event. A replay will follow. Bristol Myers Squibb is dedicated to developing innovative medicines for serious diseases.
Bristol Myers Squibb (NYSE: BMY) has finalized the sale of its manufacturing facility in
Bristol Myers Squibb (NYSE:BMY) will reveal its Q4 2022 financial results on
Bristol Myers Squibb (NYSE: BMY) presented new data from its multiple myeloma portfolio at the 64th ASH Annual Meeting. The results include advancements in bispecific T cell engagers and CAR T therapies, such as alnuctamab, Abecma, and GPRC5D CAR T. Notable findings include alnuctamab showing reduced toxicity with sustained tumor response, while Abecma demonstrated high overall response rates in patients after relapse. The company emphasizes its commitment to innovative treatments in addressing the complex challenges of multiple myeloma.
Bristol Myers Squibb (NYSE: BMY) has declared a quarterly dividend of $0.57 per share, payable on February 1, 2023, to stockholders on record by January 6, 2023. This marks a 5.6% increase from last year’s dividend of $0.54 and continues a strong trend, being the 14th consecutive year of increases and the 91st year of dividend payments overall, which reflects the company's commitment to returning value to its shareholders. An additional dividend of $0.50 per share will be paid on preferred stock on March 1, 2023.
On Nov. 29, 2022, Bristol Myers Squibb (NYSE: BMY) announced a multi-year research collaboration with Envisagenics to leverage the latter's SpliceCore® AI platform for oncology therapeutic development. The partnership aims to enhance BMY's oncology pipeline by identifying alternative splicing-derived targets. Envisagenics will receive upfront and milestone payments tied to development progress. The SpliceCore platform promises rapid drug target identification through advanced RNA-sequencing data analysis, potentially transforming modern drug development.
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