The US FDA has approved the expanded use of Bristol Myers Squibb's cancer cell therapy, Breyanzi, for follicular lymphoma, making it a major competitor to rivals Gilead and Novartis. Additionally, Nabla Bio has secured $26M Series A financing and collaborations with Bristol Myers Squibb amongst others. However, amidst these successes, Bristol-Myers Squibb is going through a restructuring phase, highlighted by a layoff of 2,200 jobs and $1.5 billion cost cuts. While experiencing a quarterly loss, the company has also launched a trial for a new cancer treatment which unfortunately, missed its endpoint at this stage. There is also an ongoing rivalry with Cytokinetics over the drug 'Camzyos'. Furthermore, not all trials are failures as one of their Phase III trial of KRAZATI met its endpoints. The company has also undertaken several acquisitions such as that of Karuna Therapeutics for $14bn and the recent one of RayzeBio for $4.1 billion. Finally, reports indicate that Bristol Myers Squibb is taking on a mid-decade transition, which will be followed by growth in the later part of the decade.
Bristol-Myers Squibb News Analytics from Wed, 20 Dec 2023 08:00:00 GMT to Thu, 16 May 2024 15:56:18 GMT - Rating 0 - Innovation 0 - Information 5 - Rumor -3
