Bristol-Myers Squibb (BMY.US) reported that two experimental drugs — one for a rare endocrine cancer and one for a deadly lung disease — succeeded in Phase 3 clinical trials, giving the pharmaceutical company's new product pipeline fresh momentum. Boosted by the news, Bristol-Myers Squibb shares rose nearly 4% in pre-market trading on Monday as of the time of writing.

The company said its LPA1 antagonist Admilparant met the primary FVC endpoint in the Phase 3 ALPFT-IPF trial for idiopathic pulmonary fibrosis (IPF). This trial is the third and final stage of clinical testing required before a new drug can be approved. Idiopathic pulmonary fibrosis is a chronic disease that causes scarring in the lungs and makes it difficult for oxygen to enter the bloodstream. Patients with idiopathic pulmonary fibrosis who took a lower-dose version of Admilparant showed significant improvement in their breathing.

At the same time, Bristol-Myers Squibb said its SSTR2-targeted radiopharmaceutical RYZ101 met the primary PFS endpoint in an interim analysis of the Phase 3 ACTION-1 trial in patients with gastroenteropancreatic neuroendocrine tumors (GEP-NET), which targeted patients treated with Lu-177-based therapy. Gastroenteropancreatic neuroendocrine tumors are a rare cancer originating from endocrine cells in the gastrointestinal tract or pancreas. The analysis found that the company's RYZ101 was able to significantly slow disease progression.

Bristol-Myers Squibb is making pipeline diversification a core strategic priority to counter the impact of patent expirations on several key products. The company aims to launch more than 10 new drugs by 2030, building a diversified product portfolio spanning multiple therapeutic areas.

At a conference earlier this year, Bristol-Myers Squibb highlighted six pipeline programs with multi-billion-dollar sales potential, including the antipsychotic Cobenfy (xanomeline + trospium chloride), the anticoagulant Milvexian, the lung fibrosis drug Admilparant, the PD-L1/VEGF-A bispecific antibody Pumitamig, and two molecular glue drugs, Iberdomide and Mezigdomide. These programs cover multiple areas including neuroscience, cardiovascular, immunology and oncology.

Bristol-Myers Squibb CEO Chris Boerner revealed that the company completed $30 billion worth of deals over the past two years, five of which were reached in 2025, and will continue to pursue better growth through strategic transactions.