RE:RE:RE:RE:TIGIT class of checkpoint inhibitors fails with Keytruda August 05, 2024 - Consequently, BMS plans to cut 117 jobs at their corporate headquarters, as well as in early discovery functions, and in the company’s commercial and late-stage development teams. BMS recently embarked on a dealmaking streak, striking three acquisitions worth about $23 billion in aggregate. And with these takeovers came consolidations. In March, BMS said it would lay off 252 former Mirati Therapeutics staffers at the biotech’s headquarters in San Diego.
The cost-cutting campaign apparently doesn’t affect BMS’ dealmaking appetite.
“We continue to prioritize business development,” Boerner said on the second-quarter call, later labeling “bolt-on deals and partnerships as being the priority for us in the immediate term.”
https://www.fiercepharma.com/pharma/bristol-myers-telegraphs-more-layoffs-new-jersey-trimming-117-jobs-staggered-cuts