Bruised by a punishing Opdivo failure, Bristol-Myers looks to shake up the business, accelerate R&D
Fresh off one of the biggest clinical trial setbacks of the year, Bristol-Myers Squibb $BMY is planning to regroup and accelerate on the R&D side as part of a broad reorganization, shifting more money into research after hunting out savings in the rest of the business.
The details are sparse, but the company says in its newly released Q3 update that it plans to create a “competitive and more agile R&D organization that can accelerate the pipeline, streamlined operations and realigned manufacturing capabilities that broaden biologics capabilities to reflect current and future portfolio. The new operating model will enable the company to deliver the strategic, financial and operational flexibility necessary to invest in the highest priorities across the company.”
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