Tag Archive for: Bristol-Myers Squibb

The $100-million facility is expected to employ over 1,500 employees and will be used to enhance its drug development through the use of digital technologies and artificial intelligence.

The shareholder is seeking to prevent the transaction and is alleging that Karuna’s directors had failed to disclose crucial material information regarding the company’s financial projections and sales processes, according to a case summary from Law.com. The plaintiff also claims that the defendants have conflicts of interests.

Merger and acquisition activity is on the rise after the biopharma industry moved on from the COVID-19 pandemic, while the role of AI in drug development is reaching new levels.

The CEOs of Bristol Myers Squibb, Johnson & Johnson and Merck testified Thursday before the Senate health committee, defending the high U.S. prices that Americans pay for prescription drugs compared to other countries based on patient value and the need to fund innovation and R&D costs.  

The company’s new anemia drug Reblozyl and its already off patent blood cancer drug Revlimid outperformed Wall Street forecasts.

The Biden administration is sending drugmakers opening offers for the U.S. Medicare program’s first ever price negotiations on Thursday, the White House said in a statement.

Bristol Myers Squibb’s PD-1 blocker Opdivo (nivolumab) failed part B of the Phase III CheckMate-914 study, bearing no significant disease-free survival benefit for patients with localized renal cell carcinoma who are at high-risk of relapse after surgery.

Saturday’s readout, which were presented at the American Society of Clinical Oncology Gastrointestinal Cancers Symposium, could position BMS to challenge Merck’s dominant PD-1 blocker Keytruda.

All three companies closed out the year, which saw significant growth in mergers and acquisitions, with high-value deals that could potentially set the tone for M&A in 2024.

Bristol Myers Squibb said on Tuesday it would buy RayzeBio for about $4.1 billion to bolster its cancer drug business, marking the second multi-billion dollar deal struck by the drugmaker in less than a week.