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ET on April 29, 2021 Bristol-Myers Squibb (NYSE:BMY) SVP Adam Dubow sold 3,119 shares of the business's stock in a transaction dated Wednesday, May 5th. Youll find valuable developmental opportunities to help connect you to your passion and drive your career forward. Following the successful closing of the tender offer, Bristol Myers Squibb will acquire all remaining shares of Turning Point Therapeutics that are not tendered into the tender offer through a second-step merger at the same price of $76.00 per share. 0000004307 00000 n Connect with a more experienced colleague to be your sounding board and to help guide you forward. 0000001396 00000 n This website uses cookies to provide website functionality. endobj . 0000003506 00000 n Bristol Myers Squibb TOKYO & NEW YORK, Jun 17, 2021--(BUSINESS WIRE)--Eisai Co., Ltd. and Bristol-Myers Squibb Company (NYSE: BMY) announced today that the companies have entered into an exclusive global strategic collaboration agreement for the co-development and co-commercialization of MORAb-202, an antibody drug conjugate (ADC). %%EOF 0000000016 00000 n Usually give off For the year end holidays too! Find out why possibility lives at Bristol Myers Squibb, We demonstrate ethics, integrity and quality in everything we do for patients, customers and colleagues, We pursue disruptive and bold solutions for patients, We move together with speed and quality because patients are waiting, Our dedication to learning and excellence helps us to deliver exceptional results, We all own BMS success and strive to be transparent and deliver on our commitments, We embrace diversity and foster an environment where we can all work together at our full potential. Turning Point Therapeutics is a clinical-stage precision oncology company with a pipeline of investigational drugs designed to address key limitations of existing cancer therapies. (, In December, the company announced that its Board of Directors approved an increase in the quarterly dividend and authorized an additional $15 billion, multi-year share repurchase program. Available to US-based employeesChange location. "The first of the new aircraft will enter service in late-2023, with the bulk to . Actual results may differ materially from current expectations because of numerous risks and uncertainties including with respect to (i) the timing of the tender offer and the subsequent merger, (ii) the number of shares of the Turning Point Therapeutics common stock that will be tendered in the tender offer, (iii) the risk that the expected benefits or synergies of the acquisition will not be realized, (iv) the risk that legal proceedings may be instituted related to the merger agreement, (v) any competing offers or acquisition proposals for Turning Point Therapeutics, (vi) the possibility that various conditions to the consummation of the tender offer or the acquisition may not be satisfied or waived, including that a governmental entity may prohibit, delay or refuse to grant approval for the consummation of the offer or the acquisition and (vii) unanticipated difficulties or expenditures relating to the proposed transaction, the response of business partners and competitors to the announcement of the proposed transaction and/or potential difficulties in employee retention as a result of the announcement and pendency of the proposed transaction. The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise. The website may also contain certain non-GAAP financial measures, adjusted to include certain costs, expenses, gains and losses and other specified items. No matter the role within BMS, we all embrace a patient-centric culture. This culture of inclusion encourages everyone to pursue innovative ideas, develop leadership capabilities and gain valuable, diverse experiences to shape exciting careers. Bristol-Myers Squibb had a positive return on equity of 33.76% and a negative net margin of 14.53%. Certain other significant tax items are also excluded such as the impact resulting from internal transfers due to streamlining our legal entity structure subsequent to the Celgene acquisition and the global intangible low taxed income tax change upon finalization of the Otezla* divestiture in 2020. Non-GAAP financial measures such as non-GAAP earnings and related EPS information are adjusted to exclude certain costs, expenses, gains and losses and other specified items that are evaluated on an individual basis after considering their quantitative and qualitative aspects and typically have one or more of the following characteristics, such as being highly variable, difficult to project, unusual in nature, significant to the results of a particular period or not indicative of past or future operating results. trailer No forward-looking statement can be guaranteed, including that the companys future clinical studies will support the data described in this release, product candidates will receive necessary clinical and manufacturing regulatory approvals, pipeline products will prove to be commercially successful, clinical and manufacturing regulatory approvals will be sought or obtained within currently expected timeframes or contractual milestones will be achieved. Currency in USD Follow 2W 10W 9M 70.18 -1.22 (-1.71%) At close: 04:00PM EST 70.40 +0.22 (+0.31%) After hours: 07:43PM EST Time. 0000013014 00000 n The transaction is expected to be up to $0.08 per share dilutive to non-GAAP EPS in 2022 prior to any impact from an acquired in-process research and development charge based on final accounting treatment. Up to 100% of qualifying tuition costs may be covered, based upon manager discretion and budget. We calculate foreign exchange impacts by converting our current-period local currency financial results using the prior period average currency rates and comparing these adjusted amounts to our current-period results. A reconciliation of the forward-looking non-GAAP measures presented in this communication is not provided due to the inherent difficulty in forecasting and quantifying items that are necessary for such reconciliation. Bristol-Myers Squibb bulls will hope to hear the company announce they've not only beaten. The case is UMB Bank NA v Bristol-Myers Squibb (NYSE: BMY) Co et al, U.S. District Court, Southern District of New York, No. Risk Evaluation and Mitigation Strategies (REMS), Pre-Approval Access to Investigational Medicines, Areas of Interest & Competitive Research Grants, The Thomas O. Daniel Research Incubator and Collaboration Center, Acquisition FAQs for Celgene Shareholders, Acquisition-related information for Celgene shareholders, Unsubscribe to News Email Alerts - Bristol Myers Squibb, Subscribe to New Email Alerts - Bristol Myers Squibb, BMS at June 2022 oncology and hematology congresses, Committed to creating a better future for cancer patients, People & Business Resource Groups leadership team, Our Commitment to Equal Employment Opportunity, Access to Medicines in the Developing World, Standards of Business Conduct and Ethics. The company has a current ratio of 1.67, a quick ratio of 1.58 and a debt-to-equity ratio of 0.82. This information is among the primary indicators that we use as a basis for evaluating performance, allocating resources, setting incentive compensation targets and planning and forecasting for future periods. Add to Google Calendar. Gross margin is expected to be approximately 78% for GAAP and for non-GAAP. Percentages and earnings per share amounts presented are calculated from the underlying amounts. 33 days holiday (inc. bank holidays) - prorated - with the option to buy/sell 5 additional days ; In addition, any information contained on this website was current as of the date presented and should not be relied upon as representing our estimates as of any subsequent date. 0000009073 00000 n 0000005073 00000 n Usually give off For the year end holidays too! Stocks gain as Bostic backs quarter-point hike; Hewlett Packard Enterprise lifts annual guidance after Q1 results beat estimates; Fed wrestles whether recent data a 'blip' or a warning on inflation In addition, the company believes such a reconciliation would imply a degree of precision and certainty that could be confusing to investors. Agenus saw its stock skyrocket on Tuesday after the company announced a $1.6 billion deal with Bristol-Myers Squibb (NYSE: BMY), a $146 billion giant, to develop Agenus promising new cancer antibody treatment. Available to US-based employeesChange location, Comparable to many others in the same league. Since our founding, we have leveraged our deep scientific expertise to develop a pipeline of promising precision oncology assets, said Athena Countouriotis, M.D., President and Chief Executive Officer, Turning Point Therapeutics. No forward-looking statement can be guaranteed. So we are always workingpushing the boundaries of what's possible to transform lives today and tomorrow. We know its not easy to make a difference, so we make sure each employee feels empowered and motivated in their efforts to do so. The 2022 Country 2 Country 4 Cancer ride organised by Bristol Myers Squibb will feature more than 90 of the company's employees cycling in seven European countries from 2-19th September in support of the Union for International Cancer Control (UICC) and selected members to raise funds with the aim of accelerating the fight against cancer and No cons. The companys performance in the first quarter of 2021 Furthermore, one of the three required milestones for payment of the Bristol Myers Squibb Contingent Value Right (CVR) remained unaccomplished due to the pending FDA approval as of Dec. 31, 2020. This earnings release and the related attachments (as well as the oral statements made with respect to information contained in this release and the attachments) contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things, statements relating to goals, plans and projections regarding the companys current and projected financial position, results of operations, market position, product development, share repurchase program and business strategy. In addition to day to day coaching and mentoring, members of The FDA has accepted the NDA and the EMA has validated the Marketing Authorization Application for deucravacitinib for the treatment of adults with moderate to severe plaque psoriasis. though we are required to work bank holidays, Paid holidays for employees are always offered, they add weeks off at times. Such risks, uncertainties and other matters include, but are not limited to: increasing pricing pressures from market access, pharmaceutical pricing controls and discounting; changes to tax and importation laws and other restrictions in the United States, the European Union and other regions around the world that result in lower prices, lower reimbursement rates and smaller populations for whom payers will reimburse; changes under the 340B Drug Pricing Program; challenges inherent in new product development, including obtaining and maintaining regulatory approval; the companys ability to obtain and protect market exclusivity rights and enforce patents and other intellectual property rights; the possibility of difficulties and delays in product introduction and commercialization; the risk of certain novel approaches to disease treatment (such as CAR T therapy); industry competition from other manufacturers; potential difficulties, delays and disruptions in manufacturing, distribution or sale of products, including without limitation, interruptions caused by damage to the companys and the companys suppliers manufacturing sites; the impact of integrating the companys and Celgenes business and operations, including with respect to human capital management, portfolio rationalization, finance and accounting systems, sales operations and product distribution, pricing systems and methodologies, data security systems, compliance programs and internal controls processes; the risk of an adverse patent litigation decision or settlement and exposure to other litigation and/or regulatory actions; the impact of any healthcare reform and legislation or regulatory action in the United States and international markets; increasing market penetration of lower-priced generic products; the failure of the companys suppliers, vendors, outsourcing partners, alliance partners and other third parties to meet their contractual, regulatory and other obligations; regulatory decisions impacting labeling, manufacturing processes and/or other matters; the impact on the companys competitive position from counterfeit or unregistered versions of its products or stolen products; the adverse impact of cyber-attacks on the companys information systems or products, including unauthorized disclosure of trade secrets or other confidential data stored in the companys information systems and networks; the companys ability to execute its financial, strategic and operational plans; the companys ability to identify potential strategic acquisitions, licensing opportunities or other beneficial transactions; the companys dependency on several key products; any decline in the companys future royalty streams; the companys ability to effectively manage acquisitions, divestitures, alliances and other portfolio actions and to successfully realize the expected benefits of such actions; the companys ability to attract and retain key personnel; the impact of the companys significant additional indebtedness that it incurred in connection with the Celgene acquisition and the MyoKardia acquisition; political and financial instability of international economies and sovereign risk; interest rate and currency exchange rate fluctuations, credit and foreign exchange risk management; the impact of adverse outcomes in lawsuits, claims, proceedings and government investigations; the impact of our exclusive forum provision in our by-laws for certain lawsuits on our stockholders ability to obtain a judicial forum that it finds favorable for such lawsuits; issuance of new or revised accounting standards; and risks relating to public health outbreaks, epidemics and pandemics, including the impact of the COVID-19 pandemic on the companys operations. The non-GAAP financial measures are provided as supplemental information to the financial measures presented in this communication that are calculated and presented in accordance with GAAP and are presented because management has evaluated the companys financial results both including and excluding the adjusted items or the effects of foreign currency translation, as applicable, and believes that the non-GAAP financial measures presented portray the results of the company's baseline performance, supplement or enhance management, analysts and investors overall understanding of the companys underlying financial performance and trends and facilitate comparisons among current, past and future periods. The accounting treatment as a business combination or asset acquisition will be determined upon the expected close of the transaction in the third quarter of 2022. Case Timeline November 12, 2021 PRESS RELEASE: FTC Approves Modifications to Bristol Meyers Squibb Divestiture Agreement January 13, 2020 File Complaint (112.81 KB) File Deferred and current income taxes attributed to these items are also adjusted for considering their individual impact to the overall tax expense, deductibility and jurisdictional tax rates. The transaction is subject to customary closing conditions, including the tender of a majority of the outstanding shares of Turning Point Therapeutics common stock and the expiration or termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. 0000001987 00000 n Similar charges or gains were recognized in prior periods and will likely reoccur in future periods, including amortization of acquired intangible assets, including product rights that generate a significant portion of our ongoing revenue and will recur until the intangible assets are fully amortized, unwind of inventory purchase price adjustments, acquisition and integration expenses, restructuring costs, accelerated depreciation and impairment of property, plant and equipment and intangible assets, R&D charges or other income resulting from up-front or contingent milestone payments in connection with the acquisition or licensing of third-party intellectual property rights, divestiture gains or losses, stock compensation resulting from accelerated vesting of Celgene awards, certain retention-related employee compensation charges related to the Celgene transaction, pension, legal and other contractual settlement charges, equity investment and contingent value rights fair value adjustments (including fair value adjustments attributed to limited partnership equity method investments beginning in 2021) and amortization of fair value adjustments of debt acquired from Celgene in our 2019 exchange offer, among other items. <> Image Source: Zacks Investment Research. Learn about joining our global team! The website may also contain certain non-GAAP financial measures, adjusted to exclude certain costs, expenses, gains and losses and other specified items. xref Investors and the public can also access the live webcast by dialing in the U.S. toll free 877-502-9276 or international +1 313-209-4906, confirmation code: 2150568. Compliance with data privacy laws on a global basis is an essential business practice for Bristol Myers Squibb. Employees must meet all eligibility requirements in order to qualify. These items are excluded from non-GAAP earnings and related EPS information because Bristol Myers Squibb believes they neither relate to the ordinary course of Bristol Myers Squibbs business nor reflect Bristol Myers Squibbs underlying business performance. The 2022 non-GAAP EPS guidance is further explained under Use of Non-GAAP Financial Information. The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in this press release. Diaspora holiday schedule. Bristol Myers Squibb expects to finance the acquisition with cash on hand. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram . Minor Fasts . Bristol-Myers Squibb's report follows an earnings beat by J&J on January 26, who reported EPS of $1.86 on revenue of $22.48B, compared TipRanks Team May 19, 2021. Shareholders who. With support and coaching from your colleagues, youre encouraged to take on stretch assignments that maximize your learning experience. There are regular US holidays with 4 floating holiday/personal days. Gregorian year (common era) Hebrew year. New Year's Day Martin Luther King Presidents Day Memorial Day July 4th Labor Day Thanksgiving and Day After Christmas Day Chevron Sara Kashima SKSH@chevron.com President's Day is only a holiday for those on the traditional 5/40 schedule. "Simply because we are attracting the best talent to better serve patients now, while at the same time we're focusing on developing strategic partnerships to grow our pipeline of next generation assets and deliver on our commitment to the patients of tomorrow.". We regularly promote awareness of this resource to employees. Our people Our global workforce is made up of over 26,000 passionate people who, in 2021, helped Pandora record the highest earnings to date, led by a refreshed long-term growth strategy. The acquisition of Turning Point Therapeutics further broadens our leading oncology franchise by adding a best-in-class, late-stage precision oncology asset, said Giovanni Caforio, M.D., Board Chair and Chief Executive Officer, Bristol Myers Squibb.