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Finance

Bristol Myers Squibb warns US price reforms will dent drug development

Bristol Myers Squibb says it expects to cancel some drug development programmes due to US government drug pricing rules that are due to be phased in from next year. Giovanni Caforio, chief executive of the US drugmaker, told the Financial Times it was reviewing its portfolio and expected that some drug candidates would not be […]

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Finance

Bristol Myers Squibb warns UK medicines levy threatens investment

The chief executive of Bristol Myers Squibb has warned that the US pharmaceutical company could divert investment away from the UK due to the expansion of a levy designed to limit the NHS’s medicines bill. Giovanni Caforio also said low pricing for medicines purchased by the NHS from pharmaceutical companies was a major issue that […]

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Business

Stocks making the biggest moves midday: Bristol-Myers Squibb, Twitter, Gilead Sciences and more

Check out the companies making the biggest moves midday Monday: Gilead Sciences — Shares of Gilead rose 3.8% after the biopharmaceutical company revealed it settled a patent case over its HIV therapies with five generic drugmakers. Twitter — Shares of Twitter slipped 2% after the company said in a regulatory filing that Elon Musk’s latest […]

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Business

Stocks making the biggest moves premarket: Carvana, Bristol-Myers Squibb, Alphatec and more

Ernie Garcia, CEO, Carvana Scott Mlyn | CNBC Check out the companies making headlines before the bell Monday. Carvana — Shares of the online car seller rose more than 7% in the premarket after Piper Sandler upgraded Carvana to overweight from neutral. The firm said Carvana could double from current levels, noting that the stock is […]