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NASHVILLE - Bristol Myers Squibb (NYSE:BMY) and Sarah Cannon Research Institute (SCRI) announced Wednesday an expanded strategic collaboration aimed at accelerating cancer therapy development and increasing access to clinical trials across the United States. The pharmaceutical giant, which boasts an "GREAT" financial health score according to InvestingPro data, continues to strengthen its position as a prominent player in the oncology space.
The partnership centers on SCRI’s Accelero clinical trial delivery model, which streamlines operations across the institute’s network of more than 200 locations. The collaboration will connect Bristol Myers Squibb’s oncology pipeline with SCRI’s research infrastructure to bring clinical trials directly to patients in their communities.
Early results show SCRI achieved a 45% reduction in study startup timelines across eight Bristol Myers Squibb clinical trials compared to non-SCRI sites. The initiative leverages SCRI’s network of more than 1,300 physicians conducting research across over 20 states.
"At Bristol Myers Squibb, we recognize that accelerating clinical trial enrollment requires not only scientific innovation but also operational innovation," said Mokash Sharma, Senior Vice President of Global Development Operations at Bristol Myers Squibb.
Dee Anna Smith, Chief Executive Officer at SCRI, stated that the collaboration "prioritizes speed, quality, and access, and ultimately brings promising therapies to patients faster and closer to home."
The partnership aims to address barriers to clinical trial participation, particularly for patients from medically underserved populations, by embedding research opportunities in community settings rather than requiring travel to major academic centers.
According to the press release statement, SCRI has conducted more than 850 first-in-human clinical trials since its inception and contributed to research leading to numerous FDA cancer therapy approvals in the past decade.
In other recent news, Bristol Myers Squibb announced a €5 billion public offering of senior unsecured notes. These notes, issued by its subsidiary BMS Ireland Capital Funding Designated Activity Company, will mature between 2030 and 2055. The pharmaceutical company also plans to present new data on Camzyos at the upcoming American Heart Association’s Scientific Sessions in New Orleans. This data will highlight the efficacy and safety of Camzyos for treating symptomatic obstructive hypertrophic cardiomyopathy.
Additionally, Bristol Myers Squibb’s quarterly earnings report exceeded analyst expectations, prompting Bernstein SocGen Group to maintain a Market Perform rating with a price target of $58.00. Meanwhile, BioNTech reported a significant third-quarter revenue surge, partly due to its collaboration with Bristol Myers Squibb, despite missing earnings expectations. This collaboration included a $1.5 billion payment, contributing to BioNTech’s revenue exceeding analyst projections. These developments reflect ongoing strategic activities and partnerships at Bristol Myers Squibb.
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