Can BMS Deliver on Innovation?

In December of 2007, Bristol-Myers announced its commitment to become a 'next-generation" biopharma company, with a focus on biologics and specialty drugs. That meant it would divest its non-core non-pharma assets, improve productivity, bolster R&D, and make sure its financing was in shape-even as its peers were taking the opposite approach. Two years later, it appears to be successfully executing on its objectives for the first two stages.

In 2007, when Jim Cornelius became interim CEO of Bristol-Myers Squibb Co., the company was at its nadir. The board, under pressure from a federal monitor, had fired the long-time CEO, Peter Dolan, and its general counsel, Richard Willward, because of a botched attempt to delay entry of a generic competitor to its best-selling anti-coagulant clopidogrel (Plavix). Analysts called the pharma "bloated" and "underachieving," especially since Plavix and other core products such as irbesartan (Avapro), were set to face generic competition beginning in 2012.

In December of that year, Bristol-Myers announced its commitment to become a 'next-generation" biopharma company, with a focus on biologics...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on In Vivo for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Business Strategy

Podcast: “They Are Able To Keep Their Body”: Medipost On Its Stem Cell Therapy Vision

 

In Vivo spoke with Edward Ahn, CEO of Medipost, a Korean company that has developed stem cell therapies from cord blood, on how they are working across regulatory markets to provide a novel treatment for degenerative diseases.

Can Italy Shake Off Its Reputation And Become A Premier Hub For Biotech?

 
• By 

Leading industry experts have spoken to In Vivo about how investment, a change in mindset and a fresh approach to policy may allow Italy to kick-start its biotech ecosystem.

Rising Leaders 2025: Abbas Kazimi’s Vision For Nimbus Therapeutics

 
• By 

Rising Leader Abbas Kazimi's leadership at Nimbus Therapeutics combines immigrant resilience, patient-first partnerships, contrarian strategic bets and a deeply personal mission driving breakthrough drug discovery innovation.

AI In Biologics Discovery: The Expensive Bet On Unproven Promise

 
• By 

Despite limited evidence of commercial impact, pharmaceutical companies are making massive strategic investments in AI biologics platforms. The question isn't whether the technology shows promise; it's whether that promise can translate to measurable business results.

More from In Vivo

Deals In Depth: June 2025

 
• By 

Five $1bn+ alliances were penned in June, and four exceeded $2bn.

Global Pharma Interest In Korea Undeterred Despite Political Roller Coaster

 
• By 

Despite recent political turmoil, outside investor and corporate interest in South Korean biopharma innovation appears robust or even increasing.

Podcast: Oxolife’s Agnés Arbat, Winner Of The European Prize For Women Innovators

 
• By 

Agnès Arbat, CEO of Oxolife and winner of the EU Women Innovators Prize, joins In Vivo to discuss OXO-001, a novel non-hormonal treatment aimed at improving embryo implantation in IVF. She shares insights from her biotech journey and the future of fertility innovation.