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4-Traders Homepage  >  Equities  >  Nyse  >  Bristol-Myers Squibb Company    BMY

BRISTOL-MYERS SQUIBB COMPANY (BMY)
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Johnson & Johnson : Janssen Announces Worldwide Development and Commercialization Collaboration with Bristol-Myers Squibb to Advance a Next-Generation Therapy for Cardiovascular Diseases

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04/20/2018 | 10:29am CEST

Titusville - The Janssen Pharmaceutical Companies of Johnson & Johnson today announced that it has entered a new worldwide collaboration with Bristol-Myers Squibb Company on a program to develop and commercialize Factor XIa (FXIa) inhibitors, including BMS-986177, for the prevention and treatment of major thrombotic conditions.

Under the agreement, Janssen Pharmaceuticals, Inc. and Bristol-Myers Squibb Company will advance BMS-986177 into Phase 2 clinical trials and establish a broad development program across multiple therapeutic indications.

The development of novel oral anticoagulants has been a major step forward in the prevention and treatment of thrombosis. The goal for next-generation anticoagulants is to achieve the same efficacy as the current standard of care while substantially lowering the risk of bleeding. Early clinical research has shown that FXIa inhibition has the potential to reduce the risk of thrombotic events with a significantly lower risk of bleeding compared to currently available therapies.

'Janssen has built deep knowledge in the anticoagulation space through our extensive experience researching and developing innovative cardiovascular therapies,' said James List, M.D., Ph.D., Global Therapeutic Area Head, Cardiovascular and Metabolism, Janssen Research & Development, LLC. 'We look forward to applying our expertise to this collaboration with Bristol-Myers Squibb to explore the full potential of BMS-986177 through Factor XIa inhibition to provide a wider safety window for anticoagulation than current therapies.'

'With the addition of a Factor XIa inhibitor program to our pipeline, Janssen continues to live up to our long-standing commitment of working tirelessly to bring truly transformational therapies to patients worldwide,' said Mathai Mammen, M.D., Ph.D., Global Head, Janssen Research & Development, LLC. 'With this new collaboration we have the potential to improve the standard of care for patients with cardiovascular conditions characterized by pathologic thrombosis.'

The companies will share development costs and commercial profits and losses. Additional terms of the agreement were not disclosed.

About the Janssen Pharmaceutical Companies of Johnson & Johnson

At the Janssen Pharmaceutical Companies of Johnson & Johnson, we are working to create a world without disease. Transforming lives by finding new and better ways to prevent, intercept, treat and cure disease inspires us. We bring together the best minds and pursue the most promising science.

We are Janssen. We collaborate with the world for the health of everyone in it. Learn more at www.janssen.com. Follow us at www.twitter.com/JanssenGlobal and www.twitter.com/JanssenUS. Janssen Pharmaceuticals, Inc. and Janssen Research & Development, LLC are part of the Janssen Pharmaceutical Companies of Johnson & Johnson.

Cautions Concerning Forward-Looking Statements

This press release contains 'forward-looking statements' as defined in the Private Securities Litigation Reform Act of 1995 related to a new collaboration and product development. The reader is cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying assumptions prove inaccurate or known or unknown risks or uncertainties materialize, actual results could vary materially from the expectations and projections of Janssen Pharmaceuticals, Inc., Janssen Research & Development, LLC and/or Johnson & Johnson. Risks and uncertainties include, but are not limited to: the potential that the expected benefits and opportunities related to the collaboration may not be realized or may take longer to realize than expected; challenges inherent in new product development, including the uncertainty of clinical success and obtaining regulatory approvals; competition, including technological advances, new products and patents attained by competitors; uncertainty of commercial success for new products; the ability of the company to successfully execute strategic plans; impact of business combinations and divestitures; challenges to patents; changes in behavior and spending patterns or financial distress of purchasers of health care products and services and global health care reforms and trends toward health care cost containment. A further list and descriptions of these risks, uncertainties and other factors can be found in Johnson & Johnson's Annual Report on Form 10-K for the fiscal year ended December 31, 2017, including under 'Item 1A. Risk Factors,' its most recently filed Quarterly Report on Form 10-Q, including under the caption 'Cautionary Note Regarding Forward-Looking Statements,' and the company's subsequent filings with the Securities and Exchange Commission. Copies of these filings are available online at www.sec.gov, www.jnj.com or on request from Johnson & Johnson.

Media contact:

Christina Chan

Tel: 908.927.5769

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2018 21 799 M
EBIT 2018 5 626 M
Net income 2018 4 991 M
Finance 2018 134 M
Yield 2018 3,15%
P/E ratio 2018 17,24
P/E ratio 2019 14,92
EV / Sales 2018 3,92x
EV / Sales 2019 3,57x
Capitalization 85 512 M
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Bristol-Myers Squibb Compa Technical Analysis Chart | BMY | US1101221083 | 4-Traders
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Mean consensus HOLD
Number of Analysts 23
Average target price 62,0 $
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Giovanni Caforio Chairman & Chief Executive Officer
Charles A. Bancroft CFO, EVP & Head-Global Business Operations
Paul von Autenried Chief Information Officer & Senior Vice President
Thomas James Lynch Chief Scientific Officer & Executive VP
Vicki L. Sato Independent Director
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