NYT article considers Bristol-Myers strategy

The Bristol-Myers Squibb's "String of Pearls" initiative to buy small biotech companies, as well as the rights to market or develop drugs from other companies, might not be the best strategy for the company, according to an article in today's New York Times.

In fact, the company's earnings report indicates that its specialization on drugs for Alzheimer disease, cancer and hepatitis C might not be enough to help it overcome lost revenues when some major drugs go off patent over the next few years.

Drugs like Abilify, Avapro and Plavix have been bringing Bristol-Myers big bucks, but the company might just be suited for a merger or takeover in the current climate. 

Still, reported earnings of $1.2 billion were respectable, and ahead of forecasts, for now at least.

- see the New York Times story

Suggested Articles

Post-Tesaro buyout, don’t expect GlaxoSmithKline to spring for more commercial-stage oncology products anytime soon.

Already a fast-growing blockbuster, Novo Nordisk's injectable Ozempic won a major heart-helping FDA nod that could bode well for its oral sibling.

Bayer's new Vitrakvi for tumors with NTRK gene fusions is meeting skepticism in England and Germany, where cost watchdogs on Friday rejected it.