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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 (NYSE:BMY) announced the presentation of data from 28 studies at the EULAR 2021 Virtual Congress, showcasing its robust immunology pipeline. Notable research includes findings on Deucravacitinib, a TYK2 inhibitor for psoriatic arthritis, displaying significant improvement in patients compared to placebo. Orencia results showed higher retention rates when used as a first-line treatment in rheumatoid arthritis. Additionally, Iberdomide demonstrated positive outcomes for skin manifestations in lupus. These presentations signify the company's commitment to advancing treatment options in immune-mediated diseases.
Bristol Myers Squibb (NYSE:BMY) announced FDA approval for Zeposia® (ozanimod) 0.92 mg to treat moderately to severely active ulcerative colitis (UC). This marks Zeposia as the first oral S1P receptor modulator approved for this condition. The approval is based on the True North Phase 3 trial, demonstrating significant improvements in clinical remission and other key endpoints. The company aims to enhance patient accessibility through the Zeposia 360 Support™ program, which includes financial assistance. A decision from the EMA regarding Zeposia's European approval is anticipated in late 2021.
Bristol Myers Squibb (NYSE: BMY) will participate in a fireside chat at Bernstein’s 37th Annual Strategic Decisions Virtual Conference on June 2, 2021, at 10 a.m. ET. Giovanni Caforio, M.D., the company's CEO, will address questions regarding the firm. Investors and the public can listen to the live webcast at investor.bms.com, with an archived version available later that day. This event underscores Bristol Myers Squibb's commitment to transparency and investor engagement.
Xencor, a clinical-stage biopharmaceutical company (NASDAQ:XNCR), entered a licensing agreement with Bristol-Myers Squibb (NYSE:BMY) for its Xtend™ Fc technology to extend the half-life of the SARS-CoV-2 mAb Duo, designed for COVID-19 treatment. This antibody combination, discovered at Rockefeller University, is currently in Phase 1 clinical evaluation. Xencor, eligible for royalties from sales, emphasizes that its technology improves therapeutic performance, potentially lowering costs for antiviral therapies. The partnership aims to address urgent medical needs, particularly in the pandemic context.
Bristol Myers Squibb (NYSE: BMY) will host a virtual Investor Event on June 8, 2021, at 1 p.m. ET to discuss data from the 2021 ASCO Annual Meeting. Executives will overview oncology portfolio data and answer investor questions. The event is open to investors and the public, with a live webcast available at http://investor.bms.com. An archived version will be accessible later that day. For more on the company, visit BMS.com.
Bristol Myers Squibb (NYSE:BMY) presented key data on Zeposia (ozanimod) for ulcerative colitis at the virtual Digestive Disease Week® (DDW) from May 21-23, 2021. Oral presentations highlighted its long-term safety and efficacy, showing improvements in clinical symptoms and remission rates. Notably, Zeposia demonstrated a consistent safety profile and increased likelihood of corticosteroid-free remission at Week 52. Mary Beth Harler emphasized the drug's potential to meet the needs of patients with gastrointestinal diseases and the company's ongoing commitment to further research.
Bristol Myers Squibb (NYSE: BMY) announced that the European Medicines Agency's CHMP recommended approval of Opdivo (nivolumab) with Yervoy (ipilimumab) for adults with mismatch repair deficient (dMMR) or microsatellite instability-high (MSI-H) metastatic colorectal cancer (mCRC) after prior chemotherapy. This decision stemmed from the Phase 2 CheckMate -142 trial. The European Commission will review this recommendation. This combination has previously received FDA approval in July 2018 and Japan in September 2020, highlighting its significance in addressing a critical treatment gap.
Bristol Myers Squibb (NYSE: BMY) announced FDA approval for Opdivo® (nivolumab) as an adjuvant treatment for completely resected esophageal or gastroesophageal junction (GEJ) cancer with residual disease post-neoadjuvant chemoradiotherapy. The approval follows the CheckMate -577 trial, showing a median disease-free survival of 22.4 months for Opdivo versus 11.0 months for placebo, indicating a 31% reduction in recurrence risk. This approval represents a significant advancement in treatment options for aggressive cancer types.
Bristol Myers Squibb (NYSE: BMY) has elected Dr. Manuel Hidalgo Medina to its Board of Directors, effective June 1, 2021. Dr. Hidalgo, a prominent figure in oncology, is currently the chief of hematology and medical oncology at Weill Cornell Medicine. His extensive experience in anticancer drug development, particularly in gastrointestinal cancers, is expected to enhance the company's scientific leadership. The board's size will increase to 11 members with his election, aimed at advancing Bristol Myers Squibb's long-term strategy in innovative medicine.
Bristol Myers Squibb (NYSE: BMY) announced that in the Phase 3 CheckMate -9LA trial, the combination of Opdivo and Yervoy with two cycles of chemotherapy resulted in a significant survival benefit for patients with advanced non-small cell lung cancer (NSCLC). After two years, 38% of patients on the combination therapy were alive compared to 26% receiving chemotherapy alone. Median overall survival was 15.8 months for the combination versus 11.0 months for chemotherapy. Safety profiles were consistent with previous studies, and secondary endpoints showed improved progression-free survival and overall response rates.
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