Bluebird takes $200M payout from Bristol Myers as Covid-19, BLA delays force execs to bring out the budget ax
Covid-19 is taking its toll on one of the industry’s flashiest biotechs.
In their Q1 filing, bluebird bio disclosed a series of changes designed to shore up their cash reservoir as projected revenue drifts further and further away. Most notably, that includes an amendment to their partnership with Bristol Myers Squibb on the ide-cel CAR-T therapy recently submitted to the FDA. Instead of splitting profits and losses on sales outside the US, Bristol Myers Squibb will pay bluebird $200 million for full ex-US rights to the drug.
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