UPDATED: Bristol-Myers rips up its R&D group, adding, eliminating and moving 800-plus

$BMY rips up its R&D group…800-plus [affected]
http://www.fiercebiotech.com/story/bristol-myers-rips-its-rd-group-adding-eliminating-and-moving-hundreds/2015-06-25 Trend of pruning spoke cities & growing #hub ones HT @JorgensenWL

“Bristol-Myers Squibb’s big reorganization fits into the industry’s new model for R&D. Large, scattered groups are out as big
organizations gravitate toward the big hubs. GlaxoSmithKline ($GSK) and Amgen ($AMGN) have offered two recent examples of that trend, which has benefited hubs like Boston/Cambridge and the Bay Area while inflicting painful cuts in outlying areas. Biopharma companies are also concentrating on core areas, sometime shedding early-stage work–reflected in Merck’s ($MRK) recent downsizing at the newly acquired Cubist and the big asset swap that occurred between GlaxoSmithKline and Novartis ($NVS).”

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