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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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      "text": "Amgen has successfully executed a business transformation that targets the same areas as our plan",
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      "text": "Amgen primarily targeted three operating functions for improvement, which are consistent with what we are advocating for at Bristol-Myers.",
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      "text": "In the G&A area, we're setting up a series of shared service activities for non-core areas and we've created what we call a Global Business Services group, which is serving then as a centralized point to serve the Company.",
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      "text": "So the benefits to this are immense. We can generate the same throughput at one-third of the operating expense with much more flexibility and we expect through time that we will be able to reduce the cost per gram of our proteins by some 60%...",
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      "text": "Things like rationalizing our process development organizations between manufacturing and research and development. That is a significant decision that we've made... to maximize utilization and do all that we can to improve return on our invested capital.",
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      "text": "\"So the benefits to this are immense. We can generate the same throughput at one-third of the operating expense with much more flexibility and we expect through time that we will be able to reduce the cost per gram of our proteins by some 60% or more and that enables us to achieve hundreds of millions of dollars of savings versus conventional technology.\" — Bob Bradway, Chairman & CEO, October 2014; \"In the G&A area, we're setting up a series of shared service activities for non-core areas and we've created what we call a Global Business Services group, which is serving then as a centralized point to serve the Company.\" — David Meline, Amgen EVP and CFO, November 2014; \"Things like rationalizing our process development organizations between manufacturing and research and development. That is a significant decision that we've made, a decisive decision that we've made that we think favors cycle time improvement and also favors reducing the capital that we have to invest in new molecules.\" — Bob Bradway, Chairman & CEO, October 2014",
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      "text": "Source: Public company filings.",
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      "text": "Amgen Management Commentary on Business Improvement Plan by Operating Function",
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      "text": "Amgen’s Margin Improvement Plan Provides a Blueprint for Bristol-Myers (cont’d)",
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