Bristol-Myers Squibb Co (NYSE:BMY) has formally announced its action to get a hold on the rights to a research program of Novo Nordisk A/S (NYSE:NVO). The Denmark based company is now considering of divesting, as it deepens its focus further on diabetes care. The company has signed an agreement, with Novo Nordisk, although nothing has been stated till now about the content of the agreement. Financial terms of this agreement were also not disclosed by either of the companies.
However, it is now known that under the agreement, Bristol-Myers Squibb shall acquire an exclusive global license. Under this license, the global biopharmaceuticals company shall have access to biologics research program, which is focused on modulation of the human innate immune system. This could potentially become a therapy for autoimmune diseases.
A well known company in the field of immune-science, Bristol-Myers Squibb Co (NYSE:BMY) has strengthened its commitment towards the field of immunology by this agreement. This will supposedly help the U.S based company develop drugs for immune-mediated diseases, which have not been met yet, with medical needs.
Immunologically speaking, the immune system can be considered as the first line of defense, which a body provides against unwanted microorganisms / pathogens. Dysregulated innate immunity further invites autoimmune diseases towards humans.
Arguably the world’s number one insulin maker, Novo should expect sales coming from diabetes to play a bigger role in its growth in the coming decade. This was told by Kaare Schultz, the Deputy CEO to Reuters last week.
The CEO of Bristol-Myers Squibb Co (NYSE:BMY), Lamberto Andreotti shall retire on May of this year. It is speculated that Andreotti shall pull in compensation, which is valued at $27 million. This is a 30 percent growth from what it was in 2013. This is supposed to include a salary of $1.72 million, an incentive award of $5.6 million and a stock award of nearly $18 million in total. Dr. Giovanni Caforio shall take over the post after Andreotti’s tenure.