Bristol-Myers Squibb To Focus On New Products

Management at Bristol-Myers Squibb have again stressed the company's"double-double" philosophy at its recent analysts' meeting in Princeton, New Jersey, which sets a goal of doubling the number of drugs it has in early clinical development next year to 15, and again to 30 by 2003.

All presenters stressed being aggressive, whether it be in R&D or the marketing of current lines. Peter Ringrose, president of B-MS' Pharmaceutical Research Institute, said that the company aims to launch two new products each year by 2000 and then three annually by 2003. The annual average at present is one.

Dr Ringrose noted that the number of research staff at the PRI would rise 50% to 6,000 in the next five years, and B-MS was projecting an annual 20% increase in R&D on the current figure of $1.3 billion. Some 50 compounds are now in active development in 10 therapeutic areas.