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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.
Bristol Myers Squibb (BMY) has received a positive recommendation from the European Medicines Agency's CHMP for the approval of Opdivo (nivolumab) combined with chemotherapy as a first-line treatment for adults with HER2-negative advanced gastric or esophageal cancers with PD-L1 expression (CPS ≥ 5). This follows favorable results from the Phase 3 CheckMate -649 trial, demonstrating significant improvements in overall and progression-free survival compared to chemotherapy alone. The recommendation awaits final approval from the European Commission.
Bristol Myers Squibb announced significant long-term results from the Phase 3 CheckMate -214 trial, revealing a five-year survival rate of 48% for patients with advanced renal cell carcinoma treated with the Opdivo (nivolumab) and Yervoy (ipilimumab) combination. The data showed a median overall survival (OS) of 55.7 months for the combination therapy versus 38.4 months for sunitinib. The study continues to demonstrate durable responses, with ongoing improvements in overall response rates (ORR) and no new safety signals emerging over extended follow-up.
Bristol Myers Squibb (BMY) announced three-year results from the CheckMate -743 trial, showing significant survival benefits for patients with unresectable malignant pleural mesothelioma treated with Opdivo (nivolumab) and Yervoy (ipilimumab) compared to chemotherapy. After 35.5 months, survival rates were 23% for the immunotherapy group versus 15% for chemotherapy, with median overall survival at 18.1 months versus 14.1 months. The trial demonstrated consistent safety without new signals. These findings will be presented at the 2021 European Society for Medical Oncology Congress.
Bristol Myers Squibb (NYSE: BMY) presented findings at the Heart Failure Society of America Annual Scientific Meeting, indicating that increased mortality risk correlates with worsening New York Heart Association (NYHA) functional class among patients with obstructive hypertrophic cardiomyopathy (HCM). The study, involving 2,495 patients, showed varying mortality rates: 5% for NYHA class I, 9% for class II, and 13% for class III/IV over a median follow-up of 3.9 years. These results underscore the importance of assessing NYHA class in treatment outcomes.
Bristol Myers Squibb (NYSE: BMY) has declared a quarterly dividend of $0.49 per share on its common stock, payable on November 1, 2021, to stockholders of record by October 1, 2021. Additionally, a dividend of $0.50 per share will be paid on its convertible preferred stock on December 1, 2021, for stockholders of record by November 9, 2021. This reflects the company's commitment to returning value to shareholders.
Bristol Myers Squibb (NYSE:BMY) will release its third quarter 2021 financial results on
Bristol Myers Squibb (NYSE:BMY) employee Mark DeLong is participating in the Coast 2 Coast 4 Cancer cycling event, aiming to raise over
Bristol Myers Squibb (NYSE: BMY) announced significant data on immunotherapies at ESMO 2021, showcasing long-term survival benefits of Opdivo (nivolumab) plus Yervoy (ipilimumab) in advanced cancers. Five-year results from CheckMate-214 in renal cell carcinoma and three-year updates from CheckMate-743 in malignant pleural mesothelioma highlight the effectiveness of these treatments. Additional data on the LAG-3 blocking antibody relatlimab combined with nivolumab emphasizes its potential in treating metastatic melanoma. These findings reinforce the role of these therapies in improving patient outcomes.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at the Morgan Stanley 19th Annual Global Healthcare Virtual Conference on September 14, 2021, at 8 a.m. ET. Giovanni Caforio, M.D., the CEO, will answer questions about the company during this session. Investors and the public can access the live webcast at investor.bms.com, with an archived version available later that day.
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