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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) reported robust Q4 and full-year results for 2020, showcasing a 39% increase in quarterly revenues to $11.1 billion and a 63% increase in annual revenues to $42.5 billion. Non-GAAP earnings per share (EPS) rose by 20% to $1.46 in Q4, while full-year non-GAAP EPS increased 37% to $6.44. The growth was driven mainly by the acquisition of Celgene, enhancing the product pipeline and market performance. Despite a reported net loss of $10 billion in Q4, the company emphasized its long-term growth strategy and disciplined development approach to sustain momentum.
Bristol-Myers Squibb (NYSE:BMY), through its subsidiary Celgene, announced the launch of 20 offers to purchase various notes for a total cash purchase price of up to $4 billion. The offers include up to $950 million for 2023 Pool Notes, $1.5 billion for 2024 Pool Notes, $650 million for 2025 Pool Notes, and $900 million for High Coupon Pool Notes. Tendering deadlines for holders to receive the Total Consideration are set for February 18, 2021 for early tender and March 4, 2021 for expiration. The Offers are aimed at optimizing the company's debt structure.
Bristol Myers Squibb (NYSE: BMY) has secured a global exclusive license from The Rockefeller University to develop and commercialize a new monoclonal antibody (mAb) treatment targeting the SARS-CoV-2 virus. This novel therapy combines two highly potent mAbs designed to neutralize the virus and block its spike protein, making it effective against various variants. Phase 1 clinical trials are currently underway to determine dosing and safety. Should the trials succeed, Bristol Myers Squibb aims to ensure the treatment's global accessibility and affordability.
Bristol Myers Squibb (NYSE: BMY) and WuXi STA, a subsidiary of WuXi AppTec, announced the agreement for WuXi STA to purchase Bristol Myers Squibb's manufacturing facility in Couvet, Switzerland. This facility will be WuXi STA's first in Europe, enhancing its capabilities and capacity. The transaction is expected to close by Q2 2021, pending regulatory approvals. The Couvet site will continue operating under Bristol Myers Squibb until the close, which includes operational assets and skilled workforce. The facility emphasizes quality, safety, and efficiency.
Bristol Myers Squibb (NYSE:BMY) announced positive results from its pivotal Phase 3 trial, POETYK PSO-2, evaluating deucravacitinib, a selective TYK2 inhibitor, for moderate to severe plaque psoriasis. The trial demonstrated that patients receiving deucravacitinib 6 mg daily achieved significant improvement in Psoriasis Area and Severity Index (PASI 75) and a clear assessment on the Physician's Global Assessment (sPGA). It also outperformed Otezla in key secondary endpoints. The safety profile remains consistent with prior studies. Further evaluation will be shared at a medical meeting.
Bristol Myers Squibb (NYSE:BMY) announced that the FDA has accepted its supplemental New Drug Application (sNDA) for Zeposia (ozanimod) to treat adults with moderately to severely active ulcerative colitis, setting a PDUFA goal date of May 30, 2021. The sNDA is based on the True North Phase 3 trial, which demonstrated significant efficacy for Zeposia in achieving clinical remission at 10 weeks and maintenance at 52 weeks. The trial met primary endpoints with consistent safety results. Zeposia is already approved for multiple sclerosis.
Bristol Myers Squibb (NYSE: BMY) announced FDA approval for OPDIVO® (nivolumab) combined with CABOMETYX® (cabozantinib) for first-line treatment of advanced renal cell carcinoma (RCC). The approval stemmed from the Phase 3 CheckMate-9ER trial, which demonstrated superior efficacy in progression-free survival (PFS), overall survival (OS), and objective response rate (ORR) compared to sunitinib. Significant findings include a 40% reduction in mortality risk and a median PFS of 16.6 months for OPDIVO plus CABOMETYX. The combination could become a standard treatment for advanced kidney cancer.
Bristol Myers Squibb (NYSE:BMY) announced a change in the timing for its fourth quarter 2020 earnings conference call. The call will now take place on Thursday, February 4, 2021, at 10 a.m. ET. Company executives will discuss the financial results and answer questions from investors. The call can be accessed via a live webcast or by phone. A replay will be available after the call ends until February 18, 2021. For additional information, materials related to the call will be available on their investor website.
Bristol Myers Squibb (NYSE: BMY) announced that the FDA has accepted its supplemental Biologics License Application for Opdivo® (nivolumab) combined with chemotherapy for patients with advanced gastric cancer, gastroesophageal junction cancer, or esophageal adenocarcinoma. The application received Priority Review status, with a PDUFA goal date of May 25, 2021. The filing is based on the CheckMate -649 trial, demonstrating significant improvements in overall and progression-free survival for treated patients. Opdivo's safety profile aligns with established expectations.
Bristol Myers Squibb (NYSE: BMY) announced the FDA's acceptance of its supplemental Biologics License Application for Opdivo (nivolumab) to treat resected esophageal or gastroesophageal junction cancer after neoadjuvant chemoradiation therapy. This application, which has been granted Priority Review, is expected to achieve a goal date by May 20, 2021. The filing is based on the CheckMate -577 trial, demonstrating a significant improvement in disease-free survival for patients post-surgery. Opdivo continues to show promise across various cancer types.
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