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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