Selectively Integrated Business Model
Our intent is to be selectively integrated. Biotech has taught us an important lesson: that you don't have to own everything in the value chain to be a very successful R&D organization and to successfully bring important products to market. We can and must be selective in what we do ourselves versus having a partner do:
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Leverage external sources of innovation to complement internal capabilities.
- Engage in codevelopment and cocommercialization partnerships, as appropriate.
- Focus internal activities on core, high-value areas.
We've used a selectively integrated business model to build our biologics capability. We've also used this approach to expand our small molecule capabilities by establishing a network of collaborations and partnerships. We expect to do more of that in the future.
Codevelopment and co-commercialization can help mitigate risks, while also optimizing pipeline value. Such partnerships allow us to pursue larger development programs across multiple indications simultaneously. And these collaborations allow us to use more internal resources to advance other promising candidates within our pipeline as well as expand the clinical uses of our growing portfolio.
Focusing our internal activities in core areas that drive innovation requires us to leverage the strengths of others. That means shifting activities in areas that can be done better and more efficiently by others, to free up our people to do what we do best. To find out more about collaborations and partnerships at Bristol-Myers Squibb, go to our Partnering page.