Bristol Looking For Deals, Immuno-Oncology And Otherwise
This article was originally published in The Pink Sheet Daily
Business development is a top priority for Bristol, management said during the company’s second quarter earnings call, and the focus is on expanding in immuno-oncology portfolio and other core therapeutic areas.
You may also be interested in...
Bristol's $2.4 billion buyout of Medarex in 2009 yielded value equivalent or greater to that realized in larger M&A transactions signed that year, such as Pfizer/Wyeth, Merck/Schering-Plough and Roche/Genentech. The deal made BMS a leader in immuno-oncology and by most accounts is the highlight of the pharma's "string of pearls" strategy.
Bristol Myers Squibb saw some turbulence for Baraclude sales in China and Japan, but noted Yervoy sales lifted and the company has high hopes for a deal with Ono and its Opdivo oncology treatment.
Celldex Therapeutics will initiate Phase I/II trials of its immunotherapy varlilumab in combination with Bristol’s PD-1 inhibitor nivolumab this year and is exploring multiple other combinations.