Bristol-Myers Squibb (BMY) Expands Cell Therapy Portfolio with $1.5 Billion Orbital Therapeutics Deal

Core Insights - Bristol-Myers Squibb Company (BMY) announced the acquisition of Orbital Therapeutics for $1.5 billion in cash to diversify its cell therapy portfolio and move away from older products facing generic competition [1][2] Group 1: Acquisition Details - The acquisition enhances BMY's CAR T-cell immunotherapy portfolio through Orbital's lead experimental therapy, OTX-201, aimed at treating autoimmune diseases [2] - This marks BMY's first major acquisition of the year, aligning with its strategy to transition from established blockbusters like Eliquis and Revlimid to newer therapies for long-term growth [2] Group 2: Financial Performance - BMY has a strong dividend history, having increased its payouts for 16 consecutive years, currently offering a quarterly dividend of $0.62 per share with a dividend yield of 5.66% as of October 14 [3]