LONDON, UK / ACCESSWIRE / June 19, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Bristol-Myers Squibb Co. (NYSE: BMY). The Company announced on June 16, 2017, that it has entered into a definitive agreement with SK Biotek, Co. Ltd, a wholly-owned subsidiary of SK Holdings. Pursuant to the terms of the agreement, SK Biotek will acquire Bristol-Myers Squibb’s small molecule active pharmaceutical ingredient manufacturing facility in Swords, Ireland. The Deal is expected to be completed by Q4 2017, where SK Biotek will resume the manufacture of the current portfolio of small molecule pharmaceutical products at the site. For immediate access to our complimentary reports, including today’s coverage, register for free now at:
At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on BMY. Go directly to your stock of interest and access today’s free coverage at:
The Swords facility is well-known for the manufacture of active pharmaceutical ingredients (APIs) for different medicines and Bristol-Myers Squibb’s and Pfizer’s (NYSE: PFE), Eliquis, a drug used to lower the risk of stroke by a blood clot. The site has produced different medicines to date, which have enabled people to fight against serious diseases, including cancer, cardiovascular diseases, hepatitis, HIV/AIDS, and psychiatric disorders.
SK Biotek will operate the Swords facility as a stand-alone Contract Development Manufacturing Organization (CDMO), and intends to add marketing, research and development (R&D) talent, and invest in renovation and upgrades, in an attempt to bring additional capacity to the site, while both the firm will manage a smooth supply to ensure reliable supply to consumers and patients.
SK Biotek is a world leader in continuous flow process from development to commercial manufacturing. The Company is the wholly-owned subsidiary of SK Group, which is the 3rd largest conglomerate in South Korea, with 280 branches and about 82,000 employees across the globe. SK Group holds about $141 billion, net, in assets and $121 billion of revenues in FY15.
The Opdivo Announcement
On June 16, 2017, the Company additionally announced extended follow-up data in which Opdivo (nivolumab) demonstrated responses in adult patients with relapsed or progressed classical Hodgkin lymphoma (cHL) after autologous stem cell transplant (ASCT), irrespective of brentuximab vedotin (BV) therapy history. The ongoing multi-cohort CheckMate-205 study checked objective response rates (ORR), the primary endpoint, and duration of response rates for each cohort, where all of them were accessed by the Independent Radiology Review Committee.
Opdivo is a programmed death-1 (PD-1) immune checkpoint inhibitor which is uniquely designed to harness the body’s own immune system to help restore anti-tumor immune response. By harnessing the body’s own immune system to fight cancer, the inhibitor has turned out to be a viable solution across multiple cancers. The US FDA and the European Medicines Agency first approved Opdivo for patients with relapsed or refractory (RR) cHL following ASCT and BV, in 2016. In the US, the indication received an accelerated approval based on overall response rate.
Biologics Portfolio Shift
SK Biotek is reportedly the first Korean Company to invest in pharmaceutical manufacturing in Ireland, where it anticipates further investment opportunities in the R&D, marketing, and additional manufacturing segments. This agreement reflects Bristol-Myers’ intent to shift its manufacturing focus to growing biologics portfolio, pursuant to which the Company invested in Cruiserath biologics facility in 2014.
The Company invested about $1 billion in building the biologics manufacturing facility solidifying its presence in Ireland. The site is expected to be fully operational in 2018, where it will employ about 440 scientists, engineers, bioprocess operators, quality specialists, and other skilled workers.
Last Close Stock Review
At the close of trading session on Friday, June 16, 2017, Bristol-Myers Squibb’s stock price was slightly up 0.33% to end the day at $54.46. A total volume of 12.53 million shares were exchanged during the session, which was above the 3-month average volume of 8.48 million shares. For the last one month, the stock has gained 0.09%. The Company’s shares are trading at a PE ratio of 18.88 and have a dividend yield of 2.86%. At Friday’s closing price, the stock’s net capitalization stands at $90.51 billion.
Pro-Trader Daily (Pro-TD) produces regular sponsored and non-sponsored reports, articles, stock market blogs, and popular investment newsletters covering equities listed on NYSE and NASDAQ and Canadian stocks. PRO-TD has two distinct and independent departments. One department produces non-sponsored analyst certified content generally in the form of press releases, articles and reports covering equities listed on NYSE and NASDAQ and the other produces sponsored content (in most cases not reviewed by a registered analyst), which typically consists of compensated investment newsletters, articles and reports covering listed stocks and micro-caps. Such sponsored content is outside the scope of procedures detailed below.
PRO-TD has not been compensated; directly or indirectly; for producing or publishing this document.
PRESS RELEASE PROCEDURES:
The non-sponsored content contained herein has been prepared by a writer (the “Author”) and is fact checked and reviewed by a third party research service company (the “Reviewer”) represented by a credentialed financial analyst, for further information on analyst credentials, please email email@example.com. Rohit Tuli, a CFA® charterholder (the “Sponsor”), provides necessary guidance in preparing the document templates. The Reviewer has reviewed and revised the content, as necessary, based on publicly available information which is believed to be reliable. Content is researched, written and reviewed on a reasonable-effort basis. The Reviewer has not performed any independent investigations or forensic audits to validate the information herein. The Reviewer has only independently reviewed the information provided by the Author according to the procedures outlined by PRO-TD. PRO-TD is not entitled to veto or interfere in the application of such procedures by the third-party research service company to the articles, documents or reports, as the case may be. Unless otherwise noted, any content outside of this document has no association with the Author or the Reviewer in any way.
PRO-TD, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. PRO-TD, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, PRO-TD, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.
NOT AN OFFERING
This document is not intended as an offering, recommendation, or a solicitation of an offer to buy or sell the securities mentioned or discussed, and is to be used for informational purposes only. Please read all associated disclosures and disclaimers in full before investing. Neither PRO-TD nor any party affiliated with us is a registered investment adviser or broker-dealer with any agency or in any jurisdiction whatsoever. To download our report(s), read our disclosures, or for more information, visit http://protraderdaily.com/disclaimer/.
For any questions, inquiries, or comments reach out to us directly. If you’re a company we are covering and wish to no longer feature on our coverage list contact us via email and/or phone between 09:30 EDT to 16:00 EDT from Monday to Friday at:
Phone number: (917) 341.4653
Office Address: Mainzer Landstrasse 50 Frankfurt am Main, Germany 60325
CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.
SOURCE: Pro-Trader Daily