Tablets on the production line of a Bristol-Myers Squibb facility in France. Photo: georges gobet/Agence France-Presse/Getty Images By Jared S. Hopkins June 5, 2019 6:59 a.m. ET Bristol-Myers Squibb Co.’s BMY 1.11% research-and-development chief will leave the company later this year after the drugmaker completes its $74 billion acquisition of rival Celgene Corp. CELG 0.77% and will hand over his responsibilities to a pair of scientists from outside the company.
The later stages of developing drugs, before they go up for approval and come to market, will be handled by Samit Hirawat, the incoming chief medical officer. He comes from Novartis AG NVS -0.27% , where he led cancer development. Dr. Lynch had spent more than two decades at Massachusetts General Hospital and is a former director of the Yale Cancer Center. He took charge of Bristol R&D after serving on its board while the company was trying to recover from the failure of a key study for flagship immunotherapy Opdivo.
The new structure assigns one official to oversee the earliest science and another to manage the latter stages of development and regulatory submissions. Bristol has emphasized the incoming pipeline from Celgene since the deal was announced in January. The drugmaker is getting several drugs in the late-stages of development that could be up for approval and launch in the near term.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Reuters - 🏆 2. / 97 Read more »