Bristol-Myers Willing to Take Deal Bets Despite Two Misses
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Bristol-Myers Squibb Co. will continue to seek out innovative drugs to buy, particularly for cancer, shrugging off two previous deals totaling $7.8 billion in the last three years that failed to pay off for them.
The New York-based drugmaker will target experimental treatments still in development, rather than commercial products that are already on the market, Chief Financial Officer Charles Bancroft said in an interview at the JPMorgan Chase & Co. health-care conference in San Francisco.