Bristol Myers plans to double experimental treatments to expand research pipeline

The New York-based company has been pressured by declining demand for two of its top drugs, the blood cancer treatment Revlimid and blood thinner Eliquis, which face generic competition.

Bristol and partner Pfizer's blood thinner Eliquis was also on the list of 10 drugs that will be subject to the first-ever price negotiations by the U.S. Medicare health program.

The company recently received regulatory approval for a new cell therapy manufacturing facility in Devens, Massachusetts and Bristol said it will continue expanding its manufacturing capacity.

Bristol, which already has two approved cell therapies in the U.S., Breyanzi and Abecma, targeting different blood cancer indications, said it plans to continue development for treatment of other diseases such as lupus erythematosus and multiple sclerosis.

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