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BRIEF-Bristol-Myers says discontinued development of drug to treat breast and gastric cancer in Q1
April 27, 2017 / 3:54 PM / 3 months ago

BRIEF-Bristol-Myers says discontinued development of drug to treat breast and gastric cancer in Q1

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April 27 (Reuters) - Bristol-Myers Squibb Co:

* Employee workforce reductions were about 900 for quarter-ended March 31, across all regions for manufacturing, selling, research and development personnel - SEC filing

* In Q1 2017, discontinued development of FS102 which was in Phase I development for treatment of breast and gastric cancer

* Will not exercise its option to purchase F-Star Alpha which was previously consolidated by company as a variable interest entity

* IPRD charge of $75 million was included in research and development expense and attributed to noncontrolling interest in Q1 Source text - (bit.ly/2oPSPvF) Further company coverage:

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