Bristol Myers outlines ‘about 12’ pipeline cuts as it executes major cutbacks

As part of its sweep­ing $1.5 bil­lion cost-cut­ting mea­sure, Bris­tol My­ers Squibb is culling “about 12” pro­grams from its pipeline, CMO Samit Hi­rawat said Thurs­day morn­ing.

The pro­grams will ei­ther be dis­con­tin­ued or ex­ter­nal­ized as Bris­tol My­ers slash­es costs com­pa­ny-wide in Chris Boern­er’s first ma­jor move as chief ex­ec­u­tive. Thurs­day’s an­nounce­ment al­so in­clud­ed about 2,200 job cuts, rep­re­sent­ing ap­prox­i­mate­ly 6% of its glob­al work­force.

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