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Pfizer Deal Highlights Bristol's Biotech Swagger

Bristol-Myers' asset sale continued with a huge deal with Pfizer in April. The move demonstrates BMS' biotech-like strategy of monetizing late-stage assets to hedge risk.

Bristol-Myers Squibb Co. continued selling off pieces of its late-stage pipeline in April, notching a monster deal with Pfizer Inc. worth up to $1 billion in up-front payments and milestones. [See Deal]

The move demonstrates Bristol's biotech-like strategy of monetizing its assets prior to commercialization. Deals like this allow the Big Pharma...

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