Bristol-Myers Squibb Co said on Thursday that it would no longer conduct research to discover new drugs for hepatitis C, diabetes and neuroscience, but will increase spending on medicines that harness the immune system to fight cancer.

The company, in an emailed statement, said it will continue with all ongoing late-stage trials of its medicines, including treatments for hepatitis C, and with trials exploring new potential uses of its drugs that are already on the market.

The company said it will continue to conduct discovery research, meaning the earliest stages of research before drugs are tested in people, to find new treatments for HIV, hepatitis B, heart failure, oncology, immunoscience and fibrotic diseases.