Bristol Stresses Cost Control Despite Strong Earnings Quarter
Pharma pledges level operating expenses from 2016 to 2020, despite a planned uptick in 2017 R&D spend. Sales were strong almost across the board for Bristol during the third quarter, but headwinds are coming, especially in immuno-oncology.
You may also be interested in...
The pharma will consolidate some operations in New Jersey, it won’t renew the lease on a Seattle site acquired with ZymoGenetics deal and intends to close an R&D site in Connecticut as part of a cost-control plan outlined in October.
Verastem steps in where AbbVie exited, agreeing to license Infinity’s duvelisib in hematologic cancer indications. Celldex grows its immuno-oncology pipeline with buyout of private Yale Medical School-spinout Kolltan.
At $920m, sales for Opdivo still overshadow competitors, but market dynamics are set to change with introduction of Merck's Keytruda in first-line lung cancer and Roche's Tecentriq in second-line lung.