Bristol-Myers Squibb plans to launch 16 new drugs by 2030

In a strategic move to enhance its product line, Bristol-Myers Squibb CEO Christopher Boerner announced the company’s intention to launch 16 new products by the end of the decade. The pharmaceutical giant aims to advance its internal pipeline and grow its business cautiously through licensing, collaborations and small acquisitions, rather than making large acquisitions.

The announcement was made during the J.P. Morgan Healthcare Conference, where Boerner highlighted the firm’s commitment to diversifying its portfolio with a strategic and financial focus. The announcement follows two key acquisitions last month, demonstrating the company’s aggressive pursuit of growth opportunities.

In December, Bristol-Myers Squibb acquired Karuna Therapeutics for $14 billion, gaining access to innovative antipsychotic treatments. Shortly after this transaction, RayzeBio acquired the company for $4.1 billion, aiming to strengthen its presence in the cancer drug market.

Additionally, in October, the company expanded its oncology pipeline with the acquisition of Mirati Therapeutics, potentially creating a value of up to $5.8 billion. The move is part of Bristol-Myers Squibb’s strategy to diversify its cancer treatment options and prepare for the potential impact of patent expirations at the end of the decade.

Bristol-Myers Squibb reiterated its financial outlook, maintaining its forecast that new product sales will exceed $10 billion by 2026.

Reuters contributed to this article.

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