In its first investment community meeting since 2007, Bristol-Myers Squibb yesterday highlighted its pipeline and discussed the company's major priorities over the next several years. "I am fully confident in our ability to deliver on our three major strategic imperatives--driving our performance in the next few years, raising our earnings base in 2013 and sustaining growth in 2014 and beyond," said new CEO Lamberto Andreotti. BMS is bracing for a plunge in profits when Plavix goes off-patent in 2012.
BMS also offered analysts an overview of its pipeline portfolio. In a release, the company said it's produced 10 new products in the past seven years and has 60 compounds in development, with seven in full development. Its late-stage drug candidates include ipilimumab (skin cancer); brivanib (liver diseases); XL-184 (cancer); dapagliflozin (diabetes); belatacept (organ transplant); and apixaban (blood thinner). It's also working on additional indications for approved drugs Sprycel, Orencia and Onglyza. The company expects five of its late-stage compunds to be launched by 2012.
- here's the BMS release