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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 has settled litigation with Cipla Limited regarding REVLIMID® (lenalidomide) patents. As part of the settlement, Celgene, a subsidiary of Bristol Myers, will allow Cipla to market limited amounts of generic lenalidomide in the U.S. starting after March 2022, with total sales constrained until January 31, 2026, when unlimited sales are permitted. Cipla's ability to market lenalidomide will depend on the approval of an Abbreviated New Drug Application.
Bristol Myers Squibb (NYSE:BMY) has declared a quarterly dividend of $0.49 per share, an 8.9% increase from last year's $0.45. This dividend will be payable on February 1, 2021 to stockholders of record by January 4, 2021, marking the twelfth consecutive year of increased dividend payouts. Additionally, a quarterly dividend of $0.50 on the company’s convertible preferred stock will be paid on March 1, 2021.
Bristol Myers Squibb (NYSE: BMY) has endowed a $3 million chair in chemistry at Scripps Research to boost drug discovery research. Professor Jin-Quan Yu, a prominent chemist, will be the inaugural holder. This partnership aims to facilitate the translation of academic research into biopharma, enhancing the development of new medicines. The collaboration highlights ongoing efforts to tackle global health challenges through innovative chemistry, with Yu's previous work paving the way for significant advancements in pharmaceutical chemistry.
Bristol Myers Squibb (NYSE: BMY) announced new findings from the QUAZAR® AML-001 study at the 62nd ASH Annual Meeting, highlighting the efficacy of Onureg (azacitidine tablets) for adult patients with acute myeloid leukemia (AML) in first remission. The study demonstrated that Onureg significantly improved overall survival (OS) compared to placebo, with median OS of 14.6 months for MRD+ patients vs. 10.4 months for placebo. Additionally, Onureg showed extended median relapse-free survival (RFS) and reduced hospitalization risks related to AML treatment.
Bristol Myers Squibb (NYSE: BMY) presented data on lisocabtagene maraleucel (liso-cel) at the 62nd ASH Annual Meeting, highlighting its potential in treating relapsed or refractory hematologic malignancies. In the TRANSCEND CLL 004 study, 95% of patients with CLL/SLL responded positively to liso-cel combined with ibrutinib, with high rates of complete responses. The TRANSCEND NHL 001 study indicated an 84% response rate in MCL patients. Additionally, the OUTREACH study showed promising results for liso-cel in LBCL, with 79% of outpatients achieving overall responses.
Bristol Myers Squibb (NYSE: BMY) and bluebird bio presented updated data for investigational CAR T cell therapy idecabtagene vicleucel (ide-cel) at the 62nd ASH Annual Meeting. Key findings from the Phase 1 CRB-401 study indicated an overall response rate (ORR) of 76% among 62 patients with relapsed and refractory multiple myeloma. The median progression-free survival (PFS) was 8.8 months, and median overall survival (OS) reached 34.2 months. Additionally, subgroup analyses revealed consistency in outcomes across high-risk and elderly patient populations.
Bristol Myers Squibb (NYSE: BMY) presented research from nearly 100 studies at the 62nd American Society of Hematology Annual Meeting held from December 5 to 8, 2020. The studies focus on advancements in treating blood cancers and hematologic diseases. Highlights include the latest analyses of CAR T cell therapies like liso-cel and findings on BCMA-targeted therapies for multiple myeloma. The company aims to improve patient outcomes through innovative treatments and ongoing commitment to research, emphasizing the importance of quality of life in treatment.
Bristol Myers Squibb (NYSE: BMY) announced that the European Commission has approved Opdivo (nivolumab) for adults with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma (ESCC) after prior chemotherapy. The decision, based on the Phase 3 ATTRACTION-3 trial, highlights a 23% reduction in the risk of death with Opdivo compared to chemotherapy, improving median overall survival to 10.9 months. Opdivo's favorable safety profile showed significantly fewer treatment-related adverse events than chemotherapy. This approval allows for expanded treatment options across Europe.
Bristol Myers Squibb (NYSE:BMY) has completed its acquisition of MyoKardia, Inc. for approximately $13.1 billion in cash, enhancing its cardiovascular portfolio. MyoKardia will now operate as a wholly-owned subsidiary. The acquisition brings mavacamten, a potential first-in-class treatment for obstructive hypertrophic cardiomyopathy (HCM), with plans for a New Drug Application to the FDA in Q1 2021. The merger was executed without a vote from MyoKardia’s stockholders, following a successful tender offer for $225 per share, with about 78.9% of shares validly tendered.
Bristol Myers Squibb (NYSE: BMY) announced that the FDA will not complete its review of the Biologics License Application (BLA) for lisocabtagene maraleucel (liso-cel) by the scheduled November 16, 2020 date due to an inability to inspect a third-party manufacturing facility amid COVID-19 restrictions. The BLA remains under review, but no new action date has been provided. This review is critical as FDA approval by December 31, 2020 is a milestone for holders of Contingent Value Rights (CVR) linked to the Celgene acquisition.
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