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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 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.
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.
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