Bristol-Myers Squibb declared a regular quarterly dividend in the amount of $.32 per share payable June 1, 2010 to shareholders of record on May 7, 2010.
At today''s $25.10 stock price the dividend yield is 5.10%.
Bristol-Myers Squibb and Pfizer announced that the companies are planning to submit an application for regulatory approval of apixaban in Europe for the prevention of venous thromboembolism (VTE) after orthopaedic surgery in the first half of 2010.
The application will be supported by ADVANCE-2 and ADVANCE-3, two clinical trials that evaluated apixaban versus the European dosing regimen of for prevention of VTE in patients undergoing orthopaedic surgery.
Bristol-Myers Squibb will continue to pursue acquisitions, the drug maker's financial chief said, with its war chest bolstered this week by a $1.75 billion cash infusion from a debt refinancing by its Mead Johnson Nutrition Co. (MJN).
By the end of this year, Bristol-Myers expects to have gross cash of more than $10 billion and more than $2 billion in net cash, factoring in the company's debt,
Bristol-Myers Squibb and Alder Biopharmaceuticals announced a global agreement for the development and commercialization of ALD518, a novel biologic that has completed Phase IIa development for the treatment of rheumatoid arthritis.
Under the terms of the collaboration agreement, Alder will grant to Bristol-Myers Squibb worldwide exclusive rights to develop and commercialize ALD518 for all potential indications except cancer, for which Alder will retain rights and grant Bristol-Myers Squibb an option to co-develop and commercialize outside the United States. An upfront cash payment of $85 million, potential development-based and regulatory-based milestone payments of up to $764 million across a range of indications, potential sales-based milestones which, under certain circumstances, may exceed $200 million, and royalties on net sales are payable to Alder by Bristol-Myers Squibb.
Bristol-Myers Squibb and ZymoGenetics presented final results from a Phase 1b clinical trial of PEG-Interferon lambda administered with ribavirin in relapsed and treatment-naïve hepatitis C virus (HCV) patients. Antiviral activity was observed at all dose levels tested.
“There is a strong need for additional options for hepatitis C patients,” said Brian Daniels, M.D., senior vice president, Global Development & Medical Affairs, Bristol-Myers Squibb. “We are pursuing this investigational pathway to address the fact that although current interferons have been the backbone of therapy with meaningful efficacy, they are often poorly tolerated, leading to dose reductions, poor compliance and avoidance of treatment.”
Bristol-Myers Squibb and Exelixis reported phase 2 clinical data which show that XL184 demonstrated activity in patients with glioblastoma multiforme (GBM), the most common and aggressive form of brain cancer.
The study evaluates the safety, tolerability, and clinical activity of XL184 at continuous daily doses of 175 mg or 125 mg in patients with previously treated GBM, including some patients who had received prior antiangiogenic therapy.
Bristol-Myers Squibb CEO Jim Cornelius said the company has over $1.3 billion in its coffers to finance more deals with small drug developers.
That's despite it's recent buyout of Medarex for $2.1 billion. The company will "continue to aggressively pursue acquisitions, licensing deals and other partnerships," promised Cornelius.
Bristol-Myers Squibb reported Q3 earnings of $0.52 per share on net income of $5.49 billion versus $0.45 per share on net income of $5.24 billion in the year ago period.
“The performance in the third quarter of 2009 clearly shows the results of our outstanding business performance, disciplined financial management and overall strategic execution,” said James M. Cornelius, chairman and chief executive officer.
Bristol-Myers Squibb announced plans to close its Evansville, Indiana quality control facility effective December 31 and to implement a reduction in force at its Mount Vernon, Indiana facility.
In a Worker Adjustment and Retraining Notification Act (WARN) filing Tuesday with the Indiana Department of Workforce Development, the company said it anticipates 113 full-time employees will be separated from employment. Of those, 79 are employed at Evansville and 34 at Mount Vernon, according to the filing.
Bristol-Myers Squibb announced that new clinical data support continued development of a subcutaneous administration of ORENCIA (abatacept) for patients with moderate to severe rheumatoid arthritis.
Bristol Myers-Squibb has a comprehensive development program underway to evaluate the potential subcutaneous administration of ORENCIA through an injection into the skin in adults with moderate to severe rheumatoid arthritis. ORENCIA is already available for the treatment of adults with moderate to severe rheumatoid arthritis. The subcutaneous program utilizes a new formulation of ORENCIA, which has been specifically designed for subcutaneous administration.
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