Bristol-Myers Squibb’s Important Recent Developments
A look at Bristol-Myers Squibb
Headquartered in New York City, Bristol-Myers Squibb (BMY) is a US pharmaceutical company that includes products from its Cardiovascular, Immunoscience, Neuroscience, Oncology, and Virology franchises.
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The above chart shows few of the major developments for the company since 2Q17.
- On September 22, the US Food and Drug Administration (or FDA) approved Opdivo (nivolumab) for the treatment of hepatocellular carcinoma in patients previously treated with Sorafenib.
- On September 22, Bristol-Myers Squibb and AbbVie (ABBV) announced a collaboration for clinical trials of AbbVie’s investigational drug ABBV-399 in combination with Opdivo for the treatment of c-met overexpressing non-small cell lung cancer.
- On September 22, the Japanese Ministry of Health, Labor, and Welfare (or MHLW) approved Opdivo for the treatment of unresectable advanced or recurrent gastric cancer in patients reporting disease progression after chemotherapy.
- On September 14, Bristol-Myers Squibb and Halozyme Therapeutics (HALO) entered into a collaboration and license agreement for the development of subcutaneously administered immune-oncology medicines based on Halozyme’s ENHANZE drug-delivery technology for Bristol-Myers Squibb.
- On September 10, Bristol-Myers Squibb announced that Opdivo 3 mg/kg shows superior recurrence-free survival rate in patients with Stage IIIb/c or Stage IV melanoma than Yervoy 10 mg/kg.
- On September 10, BMY announced the results of its Checkmate-214 study, a phase III trial evaluating the Opdivo-Yervoy combination in comparison with sunitinib for the treatment of previously untreated advanced or metastatic renal cell carcinoma.
- On September 7, Bristol-Myers Squibb announced the completion of its acquisition of IFM Therapeutics, a Massachusetts-based, privately held biopharmaceutical company.
- On September 6, BMY announced the results of three clinical trials evaluating Opdivo for the treatment of multiple myeloma. These trials include Checkmate-602, Checkmate-039, and CA204142.
To divest company-specific risks, investors could consider ETFs like the Vanguard Health Care ETF (VHT), which invests 2.7% of its portfolio in Bristol-Myers Squibb (BMY). VHT also invests 10.1% in Johnson & Johnson (JNJ), 5.5% in Pfizer (PFE), and 3.1% in AbbVie (ABBV).