Deals Of The Week Untangles The String Of Pearls
In light of rumors that Bristol-Myers Squibb is looking to buy a major biopharma, DOTW evaluates the role deal-making has played in the company’s rebuilding since it implemented its “string-of-pearls” strategy in 2007. Plus updates on Celgene/Presage, Array/Global Blood Therapeutics, Targacept/AstraZeneca and more.
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The two biotechs will team up to develop a preclinical oncology asset that could reach human testing as early as next year. The deal is one of many for the Colorado-based biopharma.
Mortality for this deadly disease has been pushed back due to therapeutic innovations. But to make further strides, new mechanisms of action and combination approaches will need to come further into play. These advances and the eventual genericization of Velcade are likely to make the regulatory and payer environment increasingly complicated.
Long-time senior VP of R&D Francis Cuss will succeed Elliott Sigal as Bristol’s head of R&D on July 1, following a transition period. In an investor call, Cuss indicated no great change in strategy but acknowledged an ongoing need to evolve corporate thinking and capability.