Bristol-Myers calls it quits on any new virology R&D programs
- Bristol-Myers Squibb (BMS) is stopping any new efforts to find new antiviral drugs, and also discontinuing its Hepatitis B and HIV early programs.
- However, the company will continue to support currently marketed products and ongoing clinical programs in virology.
- BMS is currently seeking approval of its experimental drug, Daklinza (daclatasvir), for treatment of hepatitis C. .
The decision to not initiate any new virology programs is part of a larger strategic initiative that dates back to 2013. And while the ability to make such targeted decisions in the quest to focus on the company's "hubs of scientific excellence" is a good thing overall, 100 R&D positions are being eliminated as a result of this decision.
On the upside, the company continues to build its state-of-the-art research facility in Cambridge, MA, which is expected to open by 2018. At the same time, an R&D site in San Francisco is being expanded, with completion anticipated by next year.