Bristol-Myers Squibb has entered an agreement with Janux Therapeutics valued at up to $850 million to co-develop a novel solid tumor therapy leveraging Janux’s TRACTr™ platform. Under the deal, BMY will fund all development and regulatory costs and is eligible for up to $425 million in upfront and milestone payments to Janux, with an additional $425 million contingent on commercial and sales milestones. The collaboration positions BMY to broaden its oncology portfolio beyond hematologic malignancies and target indications such as colorectal and lung cancers, with a first data readout from a Phase 1/2 trial expected in mid-2025.

Camzyos (mavacamten) delivered an 89% year-over-year revenue increase in the most recent quarter, driven by expanded prescriptions in adult obstructive hypertrophic cardiomyopathy (oHCM). BMY reported $142 million in Camzyos sales, up from $75 million a year earlier. Positive topline results from the Phase 3 SCOUT-HCM trial demonstrated a statistically significant reduction in left ventricular outflow tract gradients in adolescent oHCM patients, supporting a supplemental New Drug Application submission later this year and potential label expansion in 2026.

BMY’s late-stage pipeline includes five pivotal trials scheduled for data readouts over the next 12 months, with estimated peak sales potential exceeding $10 billion. Key programs include a bispecific antibody in multiple myeloma, two Phase 3 immuno-oncology combinations in non-small cell lung cancer, and the schizophrenia treatment Cobenfy, which has achieved encouraging uptake since its launch three months ago with prescriptions growing 40% month-over-month. The company’s R&D budget of $12.5 billion for 2024 underscores its commitment to sustaining long-term growth through innovation.