Bristol Myers Squibb (BMS) is aggressively pursuing its goal to launch over 10 new medicines by 2030, emphasizing business development as a key component of its strategy through 2026. Under CEO Chris Boerner, who has led since November 2023, the company has completed over $30 billion in acquisitions, strengthening its portfolio with companies like Mirati Therapeutics and Karuna Therapeutics. BMS aims to achieve $2 billion in annual cost savings by 2027 while focusing on core therapeutic areas, showcasing six promising assets with multibillion-dollar potential across neuroscience, cardiovascular, immunology, and oncology. Despite setbacks in several drug trials, BMS continues to pursue strategic collaborations, including an $11 billion partnership with BioNTech, while reassessing its pipeline to optimize asset allocation.
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Link to original article source: https://www.fiercepharma.com/pharma/bristol-myers-ceo-cast-broad-net-business-development-remains-top-priority
