Welcome to our dedicated page for Bristol-Myers Squibb news (Ticker: BMY), a resource for investors and traders seeking the latest updates and insights on Bristol-Myers Squibb stock.
Bristol Myers Squibb reports news on its pharmaceutical portfolio across oncology, cardiovascular disease and immunology, including regulatory decisions, clinical trial data, commercial access programs and product collaborations. Company updates include Sotyktu (deucravacitinib), a selective TYK2 inhibitor approved in the European Union for active psoriatic arthritis, and Eliquis (apixaban), an oral anticoagulant marketed through the Bristol Myers Squibb-Pfizer alliance.
Recurring developments also cover quarterly financial results, investor conference participation, debt and capital-market activity, research collaborations in cardiovascular and precision-medicine programs, and community initiatives tied to multiple myeloma care. The company’s news flow combines product-specific regulatory milestones with broader disclosures on operating performance and pipeline partnerships.
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Bristol Myers Squibb (BMY) reported first quarter revenues of $11.3 billion, a decline of 3% year-over-year, impacted by generic erosion of Revlimid. Adjusted for foreign exchange, the revenue decrease was 1%. The company posted a GAAP earnings per share (EPS) of $1.07, an 81% increase from $0.59 in the prior year, while non-GAAP EPS was $2.05, a 5% rise from $1.96. Revenue from in-line and new products grew 8% to $9.3 billion, or 10% when excluding foreign exchange impacts. The U.S. revenues improved 4% to $8.0 billion. Bristol Myers also adjusted its GAAP EPS guidance for 2023 while affirming its non-GAAP guidance, indicating resilience in its operational strategy despite external pressures.
Bristol Myers Squibb (NYSE: BMY) announces the retirement of Giovanni Caforio as CEO effective November 1, 2023. He will remain as Executive Chairman of the Board. Christopher Boerner, previously Chief Commercialization Officer, has been appointed as the new CEO, effective immediately. Boerner's leadership is anticipated to guide the company through significant growth opportunities. During Caforio's eight-year tenure, the company's revenue nearly tripled, and 12 new medicines were launched, including five first-in-class treatments. The transition is part of ongoing succession planning, aiming for a smooth handover to ensure continuity in strategic execution.
Bristol Myers Squibb (NYSE: BMY) has received a positive recommendation from the Committee for Medicinal Products for Human Use (CHMP) of the European Medicines Agency (EMA) for its drug CAMZYOS (mavacamten), intended for treating symptomatic obstructive hypertrophic cardiomyopathy (HCM) in adults. CAMZYOS would be the first cardiac myosin inhibitor in Europe targeting the source of obstructive HCM. The recommendation follows successful results from the Phase 3 EXPLORER-HCM and VALOR-HCM trials, which demonstrated significant benefits over placebo. The European Commission will now review the CHMP's opinion. CAMZYOS is already approved in the U.S., Australia, Canada, Brazil, and Switzerland, marking a significant step for Bristol Myers Squibb in offering innovative cardiovascular treatments.
Bristol Myers Squibb (NYSE: BMY) announced the expansion of its global cell therapy manufacturing network with the addition of in-house viral vector production capabilities at its Libertyville, Illinois facility. This development follows an agreement with Novartis to enhance the company's operations, specifically for its CAR T cell therapies. The new facility aims to address the increasing demand for viral vectors, crucial for engineering T cells for infusion therapies, thereby enabling more patients to access these treatments. The transition of the Libertyville site to Bristol Myers Squibb is expected to occur throughout 2023, supporting the company’s long-term ambitions in cell therapy.