Bristol-Myers Squibb CEO Discusses Recent Acquisitions and Transformation
In a recent interview with ‘s Jim Cramer, Bristol-Myers Squibb CEO Chris Boerner provided details on the pharmaceutical company’s recent acquisitions and highlighted its transformative stage.
Boerner expressed excitement about the company’s ability to bring in outside innovation due to its strong financial position. He stated, “We are writing the next chapter of this company and we’ve got real financial strength that has enabled us to go and actually bring innovation into the company from outside. And that’s what we’ve done with these most recent deals.”
Bristol-Myers Squibb made three significant acquisitions towards the end of 2023. The company plans to acquire RayzeBio and Mirati Therapeutics, known for their cancer drugs, as well as Karuna Therapeutics, which focuses on developing medications for neurological and psychiatric conditions.
Boerner expressed particular enthusiasm about the company’s deal with Karuna and its plans to accelerate its business in neuropsychology. Karuna’s new medication, KarXT, is expected to treat schizophrenia and psychosis in Alzheimer’s patients, offering high efficacy without some of the side effects commonly associated with other antipsychotic drugs.
Boerner sees these acquisitions not only as attractive commercial opportunities but also as a potential bridge to neurodegeneration and meaningful improvements in the lives of patients with Alzheimer’s disease.