Bristol Myers buys Orbital Therapeutics for $1.5 billion in cell therapy push

Core Viewpoint - Bristol Myers Squibb is acquiring Orbital Therapeutics for $1.5 billion in cash to diversify its portfolio and enhance its CAR T-cell immunotherapy offerings, particularly targeting autoimmune diseases [1][2]. Group 1: Acquisition Details - The acquisition marks Bristol Myers Squibb's first major deal of the year, shifting focus from established products like Eliquis and Revlimid to newer therapies for future growth [2]. - The deal is seen as a strategic fit, although analysts suggest it may not significantly alter the company's narrative [2]. Group 2: Product and Technology Insights - Orbital's lead candidate, OTX-201, operates in vivo, allowing CAR-T cell generation within the patient's body, which simplifies the process compared to traditional methods [4]. - The acquisition also provides Bristol access to Orbital's RNA technology, which utilizes advanced delivery methods and artificial intelligence for customizable treatments across various diseases [4]. Group 3: Financial Context - In March, Bristol Myers made a smaller acquisition of 2seventy bio for approximately $286 million, aimed at reducing future profit-sharing costs related to its CAR T-cell therapy, Abecma [5]. - Abecma and another blood cancer therapy, Breyanzi, contributed about 1.7% to Bristol Myers' total revenue last year [5].