Bristol-Myers Squibb To Discontinue Research Efforts In Virology - Quick Facts

(RTTNews) - Bristol-Myers Squibb Company (BMY) announced the company plans to discontinue discovery research efforts in virology, consistent with the evolution of its R&D strategic focus, which was announced in 2013. The company said the Discovery organization will discontinue its research efforts in virology. This includes early research in hepatitis B and HIV. Approximately 100 Discovery positions will be eliminated as a result of the changes.

Bristol-Myers said the decision does not impact its ongoing clinical development program in virology, nor does it impact the company's marketed products in virology.

Bristol-Myers also announced next steps in the evolution of the company's R&D organization, including plans to expand its presence within hubs of scientific excellence and innovation with the opening of a new state-of-the-art research site in Cambridge, Mass. in addition to the ongoing expansion of the R&D Discovery site in the San Francisco Bay Area. The new facility in Cambridge is expected to open in 2018.