The bio-tech giant Bristol-Myers Squibb is on a robust expansion spree, with a focus to solidify its control over the promising cell therapy market. It has entered a definitive agreement to acquire 2seventy bio, a leading cell therapy developer, for approximately $286 million. The all-cash deal signifies Bristol-Myers Squibb's commitment to gaining full control over Abecma, formerly in a cost-sharing agreement with 2seventy bio, thereby enhancing its market leadership.
Meanwhile, the company's ambitious cost-saving initiative continues to affect its workforce with another 280 jobs culled in the US. However, these savings are part of a larger strategic plan to cut costs by $2 billion by 2027. The company also received the necessary regulatory approval from the European Commission to use Breyanzi in NHL Treatments, underlining their commitment to advancing lymphoma treatment.
Moreover, Bristol-Myers Squibb continues to innovate in their R&D sector. They are integrating AI into their manufacturing, revealing the significant role of technological innovation in their strategy for delivering and carrying out life-changing treatments for patients around the globe. Finally, the company received FDA's approval for COBENFY™ a first-in-class Muscarinic Agonist for the Treatment of Schizophrenia in Adults.
Bristol-Myers Squibb News Analytics from Wed, 22 May 2024 07:00:00 GMT to Sat, 15 Mar 2025 07:19:54 GMT - Rating 8 - Innovation 7 - Information 8 - Rumor -2
