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Bristol-Myers Squibb has a strong track record of innovation in the pharmaceutical industry. The company has developed a number of successful new drugs, including the first blockbuster cancer drug, Taxol (paclitaxel), the first AIDS antiviral drug, AZT (zidovudine), and the first checkpoint inhibitor, Opdivo (nivolumab). BMS is also a leader in the development of immunotherapy, and the company has a number of promising new immunotherapy drugs in development.