Replies to post #208242 on Biotech Values

[DewDiligence]

BMY/Ono collect $625M+royalties from MRK in global PD-1-patent settlement:

http://finance.yahoo.com/news/bristol-myers-squibb-ono-pharmaceutical-210100587.html

As part of the agreement, Merck will make an initial payment of $625 million to Bristol-Myers Squibb and Ono. Merck is also obligated to pay ongoing royalties on global sales of Keytruda of 6.5% from January 1, 2017 through December 31, 2023, and 2.5% from January 1, 2024 through December 31, 2026. Under the agreement, the companies have also granted certain rights to each other under their respective patent portfolios pertaining to PD-1.

The royalties will be shared between Bristol-Myers Squibb and Ono in a 75/25 percent allocation, respectively.

The 72/25 split between BMY and Ono pertains to the $625M lump sum also.

The up-front amount and future royalties comprise a nice chunk of change even for a company as big as BMY.

[Titan V]

It didn't take long for BMY stock to rebound after investors panicked in October. People seem to overreact when it comes to BMY news, perhaps because of a perception that any unfavorable BMY I-O news means an automatic win in some respects for MRK.

[Traderbx]

The Street author states: "I would sit on the sidelines and wait for more drug trial results.." for BMY

https://www.pharmacist.com/article/mystery-fungus-sparks-nih-crisis-imperiling-trials

[DewDiligence]

BMY—Two notable insider transactions…

Director bought $680K of stock on 2/27/17:
https://www.sec.gov/Archives/edgar/data/14272/000001427217000063/xslF345X03/wf-form4_148840483138343.xml

CFO exercised expiring options and held the resulting shares, worth ~$1.3M:
https://www.sec.gov/Archives/edgar/data/14272/000001427217000062/xslF345X03/wf-form4_148840481051279.xml

[DewDiligence]

BMY hires MGH* doctor as CSO:

http://investor.bms.com/investors/news-and-events/press-releases/press-release-details/2017/Bristol-Myers-Squibb-Appoints-Dr-Thomas-J-Lynch-Jr-Executive-Vice-President-and-Chief-Scientific-Officer/default.aspx

Bristol-Myers Squibb Company today announced that it has appointed Dr. Thomas J. Lynch, Jr., 56, executive vice president and chief scientific officer, effective March 16, 2017. He succeeds Dr. Francis Cuss, 62, who will retire from the company. Dr. Cuss will serve as an advisor to the company for the next three months to ensure a seamless transition.

*Massachusetts General Hospital.