Bristol Myers Squibb bids farewell to dealmaking czar Elizabeth Mily

Three years on, Bristol Myers Squibb is bidding adieu to its top dealmaker.

Elizabeth Mily, who replaced BMS’ former M&A czar Paul Biondi back in 2020, is headed for the exit, the company confirmed Friday.

Mily joined the pharma company in spring of 2020 from Barclays, where she served as managing director and chair of life sciences and oversaw some $200 billion in completed mergers and acquisitions.

During her stint at BMS, Mily was instrumental in a number of deals, including the company’s recent $5.8 billion buyout of cancer specialist Mirati Therapeutics.

Shortly after her arrival at the height of the COVID-19 pandemic, Mily said she was “incredibly proud to join the company at this critical point in its history.”

But Mily’s mark won’t soon fade from Bristol Myers.

“She has built a very strong team and has delivered important transactions that have advanced our company strategy, including the acquisitions of Mirati, MyoKardia, Turning Point, multiple deals, and partnerships spanning our therapeutic areas,” a BMS spokesperson said in an emailed statement. 

Her departure has prompted BMS to launch a search for a replacement, with the company's spokesperson noting that "strategy and business development is critical to our business strategy."

Prior to her run at Barclays, Mily served for 16 years as a healthcare investment banker and Goldman Sachs before heading up strategy and development at Thermo Fisher Scientific.

Notably, Mily’s hiring came right on the heels of Bristol’s massive $74 billion acquisition of Celgene.