RE:RE:Bristol Meyers Squibb CEO to step down "The unexpected transition means that Boerner will be responsible for guiding BMS through one of the steepest patent cliffs in the biopharma industry."
https://www.fiercepharma.com/pharma/bristol-myers-caforio-hand-ceo-baton-commercial-chief-boerner
"BMS joins a growing list of drugmakers that have changed their helmsmen recently. Roche, Bayer, Biogen, Seagen, Astellas, Teva and Viatris are among large biopharma companies that have named new CEOs in the past few months."
These changes are in light of the need for aggressive M&A activities that Big Pharma must undertake now to stave-off the looming patent cliff that Big Pharma faces going forward.