Bristol-Myers Squibb Co (NYSE:BMY) announced Thursday it will be halting
early-stage discovery work in virology research, including hepatitis B
and HIV. The company will be laying off around 100 employees as it shuts
down two research centers.
"Consistent with the evolution of the company's R&D strategic focus,
which was announced in 2013, the Discovery organization will
discontinue its research efforts in virology. This includes early
research in hepatitis B (HBV) and HIV...Approximately 100 Discovery
positions will be eliminated as a result of these changes,” the company
stated.
Bristol-Myers, however, noted that ongoing development work on advanced
virology treatments including HIV attachment inhibitor BMS-663068, the
HIV maturation inhibitor BMS-955176, beclabuvir and the anti-PD-L1
compound BMS-936559, will continue. Also, the company’s marketed
virology drugs such as Baraclude (entecavir), Reyataz
(atazanavir)/Evotaz (atazanavir and cobicistat), Sustiva (efavirenz),
Atripla (efavirenz/emtricitabine/tenofovir disoproxil fumarate),
Daklinza (daclatasvir) and Sunvepra (asunaprevir), will not be affected
by the consolidation.