Bristol-Myers Squibb's $1.6 Billion On New Drug Deals Is Well Spent

The crux is that the company is making some significant moves to expand in a market with strong growth potential. Cancer drugs have traditionally been much less effective as compared to drugs catering other therapeutic areas. Besides, there are numerous types and sub-types of cancer which warrant development of very specific drugs. These factors indicate that there is a huge untapped market provided R&D efforts result in novel and effective techniques. It makes sense for the company to invest in...