The Chief Executive of Bristol-Myers Squibb Co (BMY.N) said the company intends to remain "100 percent" in prescription medicines and is prepared to use its $10 billion cash hoard to gain new drugs through moderate size deals with other drugmakers. Lamberto Andreotti also told scores of industry executives and analysts that the company's recently approved Yervoy medicine for metastatic melanoma continues to generate good initial sales. "We will continue to remain 100 percent pharma," Andreotti said at the Pharmaceutical Strategic Alliances Conference in New York. He said it was beneficial to have "the entire management team strictly focused on one business." "We can continue to be successful as 100 percent pharma," said Andreotti, whose company is deemed by many analysts to have the strongest lineup of recently approved drugs and medicines in the late stages of development in the industry.
Bristol-Myers Squibb Company (BMS) is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceutical products on a global basis. Shares of BMY fell by 1.07% or $-0.33/share to $30.62. In the past year, the shares have traded as low as $24.97 and as high as $31.78. On average, 13663800 shares of BMY exchange hands on a given day and today's volume is recorded at 23164306.
Source
