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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) has authorized an incremental share repurchase program, increasing its total to approximately $6.4 billion. The additional $2 billion in buybacks aims to enhance shareholder value, with timing and method of repurchases left to management's discretion. Share repurchases may occur through various means including open market purchases and accelerated share repurchase transactions. The company emphasizes that it is not obligated to buy back any specific amount of shares and can suspend the program at any time.
Bristol Myers Squibb (NYSE: BMY) announced the European Medicines Agency (EMA) has validated its Type II Variation Marketing Authorization Application for Opdivo (nivolumab) in combination with chemotherapy for first-line treatment of advanced gastric, gastroesophageal junction, and esophageal adenocarcinoma cancer. This validation, based on the Phase 3 CheckMate -649 trial results, indicates a significant improvement in overall and progression-free survival in patients expressing PD-L1. The company aims to enhance treatment options for these high-mortality cancers in the EU.
Bristol Myers Squibb (NYSE: BMY) announced its participation in the J.P. Morgan 39th Annual Virtual Healthcare Conference, scheduled for January 11, 2021, at 7:30 a.m. EST. CEO Giovanni Caforio will present and respond to questions. Investors and the public can listen to the live webcast at investor.bms.com. Materials related to the presentation will be available on the website at the start of the event, with an archived version accessible later that day.
Bristol Myers Squibb (NYSE:BMY) announced that the European Medicines Agency (EMA) has validated the Marketing Authorization Application for Opdivo (nivolumab) as an adjuvant treatment for esophageal and gastroesophageal junction (GEJ) cancers in adults post-neoadjuvant chemoradiotherapy (CRT) and surgery. Validation marks the start of the EMA's centralized review process. Data from the Phase 3 CheckMate-577 trial indicated that Opdivo doubled median disease-free survival in treated patients. Opdivo is positioned as a vital treatment option for patients at high recurrence risk.
Bristol Myers Squibb (NYSE: BMY) announced that the FDA has yet to decide on the Biologics License Application (BLA) for lisocabtagene maraleucel (liso-cel) in treating relapsed or refractory large B-cell lymphoma. The lack of a decision by December 31, 2020, resulted in the termination of the Contingent Value Rights (CVR) Agreement, meaning CVRs are no longer eligible for payment and will cease trading on the NYSE. Bristol Myers Squibb is committed to collaborating with the FDA to expedite the review process.
Bristol Myers Squibb (BMY) has received validation from the European Medicines Agency (EMA) for its Marketing Authorization Application (MAA) for Zeposia (ozanimod), intended for treating adults with moderately to severely active ulcerative colitis (UC). This validation initiates the EMA’s centralized review process. The MAA is based on the True North Phase 3 trial results, which showed statistically significant outcomes in clinical remission for patients treated with Zeposia. The safety profile observed aligns with existing data.
Bristol Myers Squibb announced that CheckMate -548, a Phase 3 trial for Opdivo in newly diagnosed glioblastoma multiforme patients, will not meet its primary endpoint of overall survival. Despite limiting enrollment to patients with MGMT promoter methylation, the independent data monitoring committee confirmed the trial's disappointing outcome. No safety concerns were noted, and patients currently benefiting from Opdivo may continue treatment. The company plans to complete a full evaluation of the data and share results with the oncology community.
Bristol Myers Squibb (NYSE:BMY) is set to announce its fourth quarter 2020 financial results on February 4, 2021, at 8:30 a.m. ET. Company executives will discuss the results during a conference call, which investors and the public can access via a live webcast. A replay of the call will be available from February 4 to February 18, 2021. Bristol Myers Squibb is a global biopharmaceutical firm dedicated to developing innovative medicines aimed at aiding patients with serious diseases.
Bristol Myers Squibb (NYSE: BMY) announced new sustainability goals aimed at enhancing its environmental commitment globally. By 2030, the company plans to source 100% of its electricity from renewable sources, and by 2040, it aims for carbon neutrality in Scope 1 and Scope 2 emissions. The initiatives also include equitable water use, zero waste to landfill, and a fully electric vehicle fleet. This follows a $300 million investment in Diversity & Inclusion and Health Equity, and aligns with the Science Based Targets Initiative for emissions reduction.
Bristol Myers Squibb (BMY) announced that the European Medicines Agency's CHMP has recommended approval of Inrebic® (fedratinib) for treating spleen enlargement in adults with specific myelofibrosis conditions. If approved by the European Commission, Inrebic will be the first once-daily oral treatment option for patients who are JAK inhibitor naïve or have failed on ruxolitinib. The CHMP opinion was based on results from pivotal studies JAKARTA and JAKARTA2. Notably, Inrebic is already approved in the U.S. for similar indications.
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