We are also, as an industry, beginning to look at manufacturing capacity so that we can bring that together when a new treatment is developed and is proven to be effective with patients. And we're working with other companies to really shape clinical trials together. We also have a number of medicines that are on the market already that can be tested because they're potentially active against some of the inflammatory symptoms of the disease that are so severe. So we did make a thousand compounds from our library available to external researchers to investigate whether they can have a role to play. GIOVANNI CAFORIO: Yeah, Jim, we're doing a number of things. But you're just opening it up because you want to solve this - solve this pandemic. You're giving away a thousand compounds in your discovery library. They're not friends, but they're teaming up. JIM CRAMER: Now, for example, I know we have done work with Glaxo and Sanofi. In our industry we have a lot of experience and we're bringing that to the table in order to advance the solution to this very terrible pandemic, as you said. At the same time, I believe it really is important to continue to work together. And also we are seeing companies in our industry come together to start clinical trials with potential new treatments for the disease. There is progress with the development of diagnostics. I think it's going to be incredibly important going forward. The adaptability and the ability to learn from experience is really important today. GIOVANNI CAFORIO: Well, first of all, one of the things that we are doing is we are - we are learning. Do you think we've caught up to it? Do you think that we're on to this - to this terrible illness and we're starting to see what terrible things it can do and we're going to be able to blunt them? We didn't seem to be able to realize how nefarious it was. When I say "we," I mean this is such a terrible illness. I feel that from the very beginning we were behind. JIM CRAMER: I don't want to create any false optimism. So I can say I am really optimistic about how we are coming together to manage this crisis. And, of course, we're very present with helping our communities everywhere we can. We're helping patients with our medicines. We are accelerating the pipeline medicines that can be helpful in the treatment of some of the effects of the disease. For us, at Bristol Myers Squibb as a leader in the industry, we are also playing an important role, and it really is for every patient, not just for patients infected and impacted by COVID. We're coming together to bring resources and expertise together, and we are making great progress already in a short period of time. We are working with the FDA, the National Institutes of Health, the Gates Foundation. I see an unprecedented level of cooperation between companies in our industry. We've had health crises before, and we've been able to work together and develop the right medicines and the right vaccines to overcome issues. That's who we are and this is what we do. When you look at the polls, the public is really counting on the government and the industry during this time of crisis, and the biopharmaceutical industry can play and is playing a really important role. I'm a believer in science and so I'm optimistic. So first of all, let me say, I am a physician. GIOVANNI CAFORIO: Jim, thanks for having me during these really important times. And the only people we have to look to are people like you who are being thrust into a position - you're a CEO, but now you're much more than that. You're head of a major pharmaceutical company. Giovanni, how did we get here? I need your advice. Thank you so much for joining us for CNBC's Healthy Returns. Giovanni Caforio, who is chairman and CEO of Bristol Myers Squibb and chairman of PhRMA. Q1 2020 hedge fund letters, conferences and more Interview With Bristol Myers Squibb CEO Giovanni Caforio
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