Bristol Unveils Post-Celgene Leadership Team, With Big R&D Changes
Novartis's Hirawat will join the company as chief medical officer, while Celgene's Vessey will head early research. Bristol's current chief scientific officer Lynch will leave the company in October.
You may also be interested in...
In an interview at Novartis' research campus in Cambridge, Mass., Schaffert spoke about the upcoming launch of Piqray for breast cancer, building in radiopharmaceuticals, Kymriah's ongoing manufacturing challenges and more.
With no more activist investor challenge, shareholders of both companies overwhelmingly approved the deal. Bristol said it will have leading positions in oncology and cardiovascular disease, and gain five potential blockbusters in the Celgene buyout.
Bristol's surprising purchase diversifies its portfolio beyond Opdivo, while stopping Celgene's ongoing stock price declines after several setbacks. While Bristol execs downplayed the mid-term risk of generics for Celgene's blockbuster Revlimid, they highlighted near- and long-term growth drivers.