Please ensure Javascript is enabled for purposes of website accessibility

Bristol Myers Squibb Hints at Further Acquisition Plans With New Executive Hire

By Eric Volkman - Mar 19, 2020 at 10:58AM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Elizabeth Mily, the pharmaceutical company's incoming strategy and business development chief, is a finance industry veteran.

Bristol Myers Squibb (BMY 0.30%) is drawing from the ranks of the finance industry for its latest high-level hire. The company announced Wednesday it has tapped Elizabeth Mily to be its executive vice president, strategy and business development. The appointment is effective March 30.

In its press release trumpeting Mily's hire, Bristol Myers Squibb said that she is to "oversee company strategy and all business development activities, including strategic partnerships, mergers and acquisitions, as well as other strategic initiatives."

Pills spilling out on US currency.

Image source: Getty Images

Previously, Mily was managing director and chair of the global life sciences group at Barclays. According to her new company, while at the sprawling bank she "executed over $200 billion in completed [mergers and acquisitions] advisory assignments and has advised on an extensive amount of debt, equity and equity-linked financings." Mily had been at Barclays since 2010.

Her LinkedIn page reveals a career that has blended the finance and healthcare industries. Before her time at Barclays, she did a brief stint as senior vice president of corporate strategy and development at Thermo Fisher Scientific

In its press release, Bristol Myers Squibb repeatedly referenced merger and acquisition activities. Considering that and Mily's work history, it's reasonable to believe the company will continue actively looking to acquire new assets. It certainly hasn't been shy to do so in the recent past. In November, it closed what had been a challenging deal -- its massive, $74 billion absorption of pharmaceutical company Celgene.

The performance of Bristol Myers Squibb stock on Wednesday was generally in line with that of the broader market, declining by slightly over 7%.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Bristol Myers Squibb Company Stock Quote
Bristol Myers Squibb Company
BMY
$76.19 (0.30%) $0.23
Barclays PLC Stock Quote
Barclays PLC
BCS
$7.79 (-0.64%) $0.05
Thermo Fisher Scientific Inc. Stock Quote
Thermo Fisher Scientific Inc.
TMO
$555.15 (0.80%) $4.41

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning service.

Stock Advisor Returns
330%
 
S&P 500 Returns
115%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 05/21/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.