Bristol-Myers Squibb Company (NYSE:BMY) 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. In connection with today’s
announcement, Dr. Lynch will step down from the Board of Directors
of Bristol-Myers Squibb, effective March 15, 2017.
Dr. Lynch has more than 30 years of medical, management and
leadership experience, including more than 23 years at
Massachusetts General Hospital (MGH). He served as chairman and
chief executive officer of Massachusetts General Physicians
Organization and as a member of the MGH Board from 2015 to 2017.
Before returning to MGH, Dr. Lynch served as the director of Yale
Cancer Center and was the Richard and Jonathan Sackler Professor of
Internal Medicine at the Yale School of Medicine from 2009 to 2015.
While at MGH in 2004, Dr. Lynch was part of the team credited with
the significant discovery that certain genetic mutations in lung
cancer patients caused therapies to work for some individuals and
not for others.
“We are pleased to welcome Tom to the leadership team at
Bristol-Myers Squibb,” said Giovanni Caforio, M.D., chief executive
officer and chairman designate of Bristol-Myers Squibb. “Tom is an
internationally recognized oncologist known for his leadership in
the treatment of lung cancer and has made significant contributions
to the field of targeted therapies throughout his career. Tom
brings deep industry knowledge and a sophisticated understanding of
the Bristol-Myers Squibb Research & Development program from
his experience as a member of our Board. As we transition to our
next phase of growth, we are confident Tom is the right person to
lead our dynamic R&D organization as we focus on accelerating
the development of our Immuno-Oncology medicines and fully
realizing the extraordinary potential of our diverse, innovative
pipeline. With deep experience as a clinical researcher, leader of
large research centers and a practicing physician, Tom brings
unique, important and timely perspectives to the business.”
Dr. Lynch said, “Throughout my career, I have been devoted to
advancing oncology research, with a particular focus on lung
cancer. I have seen firsthand Bristol-Myers Squibb’s commitment to
making a meaningful difference in the lives of patients, and I am
honored to lead the company’s R&D program, where lung cancer
research is a core area of focus in a highly successful
Immuno-Oncology development program. I have a strong appreciation
for the depth of Bristol-Myers Squibb’s portfolio and rich pipeline
in oncology as well as in the fields of cardiovascular diseases,
immunoscience and fibrosis. We have a number of significant
opportunities and are uniquely positioned to transform cancer care.
I am confident that our team will continue to discover and develop
innovative medicines that address serious diseases in areas of
significant unmet medical need.”
Caforio concluded, “On behalf of the Board and leadership team,
I want to thank Francis for his hard work and dedication to
Bristol-Myers Squibb for more than 13 years. Our portfolio and
pipeline have been significantly strengthened during his time
leading Discovery and R&D, and we wish him the best in his
retirement.”
“It has been an honor to lead Bristol-Myers Squibb’s talented
R&D team during such a transformative period for the company,”
said Cuss. “Today, Bristol-Myers Squibb is creating unprecedented
opportunities to address some of the most challenging disease areas
in ways we never thought possible even five years ago. I’ve come to
know Tom well in his capacity as a board member and I am confident
that under his leadership the team will continue to flourish and
find new ways to discover, develop and deliver innovative medicines
that make a difference in the lives of patients.”
About Dr. Thomas J. Lynch, Jr.
Dr. Lynch has served as chairman and chief executive officer of
Massachusetts General Physicians Organization and a member of the
Massachusetts General Hospital Board since 2015. From 2009 to 2015,
Dr. Lynch was director of Yale Cancer Center and was the Richard
and Jonathan Sackler Professor of Internal Medicine, Yale Cancer
Center, Yale School of Medicine. He has also served as the
Physician in Chief of Smilow Cancer Hospital, Yale-New Haven, since
2009. Prior to 2009, Dr. Lynch was Professor of Medicine at Harvard
Medical School and chief of Hematology/Oncology at Massachusetts
General Hospital. Dr. Lynch is a member of the American Association
for Cancer Research, the American Society of Clinical Oncology, and
the International Association for the Study of Lung Cancer.
About Bristol-Myers
Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose
mission is to discover, develop and deliver innovative medicines
that help patients prevail over serious diseases. For more
information about Bristol-Myers Squibb, visit us at BMS.com or
follow us on LinkedIn, Twitter, YouTube and Facebook.
Statement on Cautionary
Factors
This Report contains certain forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
regarding, among other things, statements relating to goals, plans
and projections regarding the company’s financial position, results
of operations, market position, product development and business
strategy. These statements may be identified by the fact that they
use words such as "anticipate", "estimates", "should", "expect",
"guidance", "project", "intend", "plan", "believe" and other words
and terms of similar meaning in connection with any discussion of
future operating or financial performance. Such forward-looking
statements are based on current expectations and involve inherent
risks and uncertainties, including factors that could delay, divert
or change any of them, and could cause actual outcomes and results
to differ materially from current expectations.
These factors include, among other things, effects of the
continuing implementation of governmental laws and regulations
related to Medicare, Medicaid, Medicaid managed care organizations
and entities under the Public Health Service 340B program,
pharmaceutical rebates and reimbursement, market factors,
competitive product development and approvals, pricing controls and
pressures (including changes in rules and practices of managed care
groups and institutional and governmental purchasers), economic
conditions such as interest rate and currency exchange rate
fluctuations, judicial decisions, claims and concerns that may
arise regarding the safety and efficacy of in-line products and
product candidates, changes to wholesaler inventory levels,
variability in data provided by third parties, changes in, and
interpretation of, governmental regulations and legislation
affecting domestic or foreign operations, including tax
obligations, changes to business or tax planning strategies,
difficulties and delays in product development, manufacturing or
sales including any potential future recalls, patent positions, the
ultimate outcome of any litigation matter, our level of
indebtedness and risks, disruption, costs and uncertainty caused by
or related to the actions of stockholders. These factors also
include the Company’s ability to execute successfully its strategic
plans, including its business development strategy, the expiration
of patents or data protection on certain products, including
assumptions about the Company’s ability to retain patent
exclusivity of certain products, and the impact and result of
governmental investigations. There can be no guarantees with
respect to pipeline products that future clinical studies will
support the data described in this release, that the compounds will
receive necessary regulatory approvals, or that they will prove to
be commercially successful; nor are there guarantees that
regulatory approvals will be sought, or sought within currently
expected timeframes, or that contractual milestones will be
achieved. For further details and a discussion of these and other
risks and uncertainties, see the Company's periodic reports,
including the annual report on Form 10-K, quarterly reports on Form
10-Q and current reports on Form 8-K, filed with or furnished to
the SEC. The Company undertakes no obligation to publicly update
any forward-looking statement, whether as a result of new
information, future events or otherwise.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170308006069/en/
Bristol-Myers SquibbMedia:Laura Hortas,
609-252-4587laura.hortas@bms.comorInvestors:John Elicker,
609-252-4611john.elicker@bms.com
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From Apr 2024 to May 2024
Bristol Myers Squibb (NYSE:BMY)
Historical Stock Chart
From May 2023 to May 2024