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  "documentTitle": "Bristol-Myers Squibb Company (BMY)",
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      "text": "By moving to newer Cell Line processes, peers have seen cost of goods improvements of >35%",
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      "text": "Each Cell Line produces a specific amount of protein per cell. Current Bristol-Myers technology generates 0.5 - 2.0g/L. Newer technologies generate 4 - 6g/L (up to 10g/L).",
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      "text": "1. Generate a new Cell Line that is more productive; 2. Optimize cell culture media/nutrients; 3. Use larger Production Bioreactors",
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      "text": "While peers have done this, it would require the Company to re-file with the FDA; therefore, significant consideration to the risk/reward analysis must be weighed.",
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      "text": "In addition to improving Cycle Times, we believe there is a significant opportunity to enhance Cell Yields.",
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      "text": "By migrating the biologics manufacturing process to a newer technology, Bristol-Myers may be able to significantly reduce cost of goods sold",
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