BMS leverages Celgene merger to revive neuroscience pipeline amid delayed readouts

Bristol Myers Squibb, long recognized for its oncology work, is re‑investing in neurological and psychiatric disease programs, a move rooted in assets gained from its 2019 $74 billion Celgene merger.

The most closely watched asset is Cobenfy, a schizophrenia treatment acquired through the $14 billion Karuna deal, now being evaluated for Alzheimer’s disease psychosis. Clinical challenges have pushed the expected readout to 2027, with a possible interim analysis later this year.

BMS says its broader neuroscience portfolio now spans Alzheimer’s disease, multiple sclerosis and other neuropsychiatric indications, reflecting a “continuum of care” approach.

The company had stepped back from neuroscience in 2013, but new leadership in the division says the renewed focus is driven by excitement over the growing pipeline.