Back to top

Analyst Blog

Bristol-Myers Squibb Company (BMY - Analyst Report) expanded its existing manufacturing agreement with Samsung BioLogics. As per the new deal, Samsung will be manufacturing several biologic medicines for Bristol-Myers at its manufacturing site in Incheon, South Korea. The companies did not reveal any financial details of the deal.

In July last year, Bristol-Myers and Samsung had entered into a 10-year agreement. As per the initial deal, Samsung had to manufacture a single oncology product for Bristol-Myers. The deal aimed at strengthening Bristol-Myers’ oncology pipeline.

Bristol-Myers has inked a number of partnerships over the last few months. Last month, Bristol-Myers entered into a deal with Five Prime Therapeutics, Inc. (FPRX - Snapshot Report) for the discovery, development and commercialization of immuno-oncology treatments. Under the terms of the deal, Bristol-Myers will have a 4.9% stake in Five Prime shares through an investment of $21 million.

The deal grants Bristol-Myers access to Five Prime’s immuno-oncology platform. Bristol-Myers is also responsible for identifying the most promising candidates which will be developed either as monotherapies or in combination with Bristol-Myers’ existing immuno-oncology treatments based on two undisclosed immune checkpoint pathways. Furthermore, the deal grants Bristol-Myers full worldwide rights to market these therapies on approval.

Our Take

We are encouraged by Bristol-Myers’ collaboration efforts with other companies to advance its pipeline. Bristol-Myers has been trying to offset the declining sales of some of its important products by bringing in new products through in-licensing deals. The company has sold off its global diabetes business to AstraZeneca (AZN - Analyst Report) earlier in the year to shift its focus on its oncology, immunology and other existing portfolios.

Bristol-Myers carries a Zacks Rank #2 (Hold). A better-ranked stock includes Regeneron Pharmaceuticals, Inc. (REGN - Analyst Report), which carries a Zacks Rank #1 (Strong Buy).

Read the Full Research Report on BMY
Read the Full Research Report on FPRX
Read the Full Research Report on REGN
Read the Full Research Report on AZN


Zacks Investment Research

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
CTPARTNERS… CTP 13.33 +3.49%
SAIA INC SAIA 45.65 +1.00%
VASCO DATA… VDSI 13.57 +0.67%
AMEDISYS IN… AMED 20.18 +0.10%
FIRSTSERVIC… FSRV 55.66 -0.13%