Bristol-Myers Squibb Company ( BMY ) recently
appointed Francis Cuss as its executive vice president and chief
scientific officer. The arrangement is effective from Jul 1, 2013.
Cuss will be taking over from Elliott Sigal, who will retire on Jun
We note that Sigal occupied the post of Bristol-Myers' chief
scientific officer since 2004. Moreover, he has been on the
company's Board of Directors since 2011.
Cuss is also well experienced in the field of research and
development (R&D). He joined Bristol-Myers in 2003. Prior
to joining Bristol-Myers, he worked in companies like
Schering-Plough (now a wholly owned subsidiary of Merck
& Co. Inc. ( MRK )) and
GlaxoSmithKline ( GSK ).
At Bristol-Myers, Cuss was a member of the hugely successful
R&D team under Sigal. Bristol-Myers boasts of a robust
pipeline. Successful development of the pipeline is the key to
Bristol-Myers' growth following the genericization (in the US) of
Bristol-Myers' successful blood thinner Plavix in May 2012.
Consequently, we believe that Cuss has big challenges ahead. His
impressive medical background and experience in R&D should
stand him in good stead as he dons new responsibilities.
Bristol-Myers is looking to combat the generic threat hanging over
its key drugs through partnering deals and acquisitions and
introducing new products to augment its product portfolio. In Feb
2013, Bristol-Myers announced that it has inked a deal with Reckitt
Benckiser Group plc for three years.
As per the terms of the deal, Reckitt Benckiser will get
exclusive rights to commercialize several over-the-counter (OTC)
drugs in Bristol-Myers' portfolio targeting the Latin American
markets (primarily Mexico and Brazil).ARRAY BIOPHARMA (ARRY): Free Stock Analysis
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In Aug 2012, Bristol-Myers acquired Amylin Pharmaceuticals, Inc.
in a bid to diversify its business to combat the generic threat and
bolster its position in the lucrative diabetes market.
Bristol-Myers, a biopharmaceutical company, carries a Zacks Rank
#3 (Hold). Stocks such as Array BioPharma, Inc. (
ARRY ) appear to be
more favorably placed in the biopharma space. The stock carries a
Zacks Rank #2 (Buy).