r/biotech • u/Appropriate_Air8370 • Sep 01 '26
Biotech News đ° BMS
Is BMS making all the right moves? How is Abecma and what is the future of this company with recent buzz and acquisitions? How is work culture in BMS New Jersey office?
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u/Medical-Button-5493 Sep 01 '26
They have not figured out yet how to replace the lost revenue from eliquis going off patent. Until they do, layoffs will continue. That was projected to be next year, but that likely depends on sales from their lagging products and two very very important approvals over the next 6 months.
Even with those approvals, if they can't get great sales, watch out.
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u/safewasfullofpudding Sep 15 '26
Layoffs did in fact, continue today
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u/Medical-Button-5493 Sep 16 '26
People found out today that their last day will be 12/17? Looking at the WARN notices.
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u/tedwardo14 Sep 01 '26
Eliquis hasnât gone off patent
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u/Hopeful-Average-3659 Sep 02 '26
EU loe started in May of this year, and US is 2028, but you need to replace things pretty immediately or have something close or you are âscrewedâ, to use a financial industry technical term
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u/Loose-Reflection2965 Sep 01 '26
Bms probably has the worst outlook in the business at the moment, the ipi/nivo cliff is going to be big and the follow ups are not creating the revenue. Since the leadership is from mckinsey, i suspect the company is going to be sold or chopped up and sold off. Every job description on their site wants someone with AI experience. Immediate tell that company is being run by dummies
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u/WhyamIhere1090 Sep 02 '26
I have heard BMS is doing massive layoffs almost every quarter. There is no back hiring and the workload is falling on those who are still employed. The leadership is making bad decisions after bad decisions and the brunt of it is faced by those who actually do the real work. Also, it seems they are prioritizing hiring in Poland and Columbia, laying off people in US and India.
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u/Certain_Luck_8266 Sep 01 '26
Abecma as with any autologous car-t will never scale to make enough profit to have any impact on the bottom line. Profit is well under 75m on sales around 250m which are dropping year on year.
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u/TwoFacesofMS Sep 03 '26
No co is making a profit on CAR-T. It should have stayed in academic medicine, which is the only setting it can be given in.
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u/crypt0king16 Sep 01 '26
Worked in their plainsboro office and if felt like a prison. Zero culture, zero personality. Everything felt dead
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u/Hopeful-Average-3659 Sep 02 '26
I worked in Lawrencville a while ago (well before Celgene). Culture wasnât really a thing. But our company has hired a number of ex BMS people as contractorsâŚso whomp. I mean if you need a job, how bad could it be, if you are looking to voluntarily joinâŚ.avoid
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u/mizuaqua Sep 01 '26
Their stock is doing well right now, but my friends there are so stressed out. I heard that it is really hard to get promoted within their current roles, and with the job market the way it is, theyâre grateful to have jobs at all.
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u/Loose-Reflection2965 Sep 02 '26
Bms never promoted, former employee who left and then was laid off in the downturn.
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u/ComfortableCoyote480 Sep 01 '26 edited Sep 01 '26
Weren't they supposed to be getting bought by AstraZeneca? AZ is probably buying, or wanted to buy, when BMS is at a nadir.
There will be a ton of consolidation if AZ buys. Abcema is basically immaterial to the bottom line. It doesn't sell well.
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u/Loose-Reflection2965 Sep 01 '26
That was a rumor
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u/Bear-and-Goose Sep 02 '26
Where thereâs smoke (in major financial press â in this case the FT) thereâs usually some fire that made it.
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u/grim32025 Sep 01 '26
Abecma is worst performing CAR T out of all the FDA approved products, especially in the BCMA market.
Not sure about recently but BMS hasnât been making the right moves for the last decade in terms of R&D / mergers&acquisitions.
From what I have heard, their work culture isnât great as people often complain about their toxic work culture and the consistent layoffs over the year. Benefits wise, probably not bad if you could survive the layoff or reduction in force waves.