Bristol-Myers still looking for acquisitions after missteps

|About: Bristol-Myers Squibb Company (BMY)|By:, SA News Editor

Bristol-Myers (BMY -0.5%) isn't giving up on buying experimental drugs despite two high-profile bets that didn't pay the type of dividends some expected, Bloomberg writes.

Citing comments made by CFO Charles Bancroft at the JPMorgan Healthcare Conference, Drew Armstrong says BMY "will target experimental treatments still in development, rather than commercial products that are already on the market."

As for disappointing results from deals for Amylin and Inhibitex, Bancroft says you "have to take bets sometimes."