Bristol-Myers Squibb
Headquarters:
345 Park Ave.
New York, NY 10154
Phone: 212-546-4000
Employees: 43,000
CEO: James Cornelius
Stock Symbol: BMY
Website:
http://www.bms.com
Career
Site
Bristol-Myers Squibb is a leading provider
of medicines to fight cancer, cardiovascular and metabolic disorders,
infectious diseases -- including HIV/AIDS -- and serious mental
illness. The company operates research and development facilities
-- located in New Jersey, Connecticut and elsewhere around the
globe -- that are looking for new and better treatments for cancer,
rheumatoid arthritis, hepatitis B, diabetes and other serious
illnesses and conditions.
Key products made by the company include
Plavix, Avapro/Avalide, Erbitux, Abilify and Reyataz.
World headquarters are located in New York
City and European headquarters are in Malmaison, France.
Bristol-Myers Squibb's other businesses
also meet significant health needs of people worldwide. Mead
Johnson Nutritionals, known for its Enfamil line of infant
formula, is a leader in providing infant and child nutrition.
ConvaTec offers high-quality ostomy and wound therapeutics products
and services.
In fiscal 2007, Bristol Myers Squibb reported
revenues of $19.3 billion and net income of $2.1 billion.
U.S. pharmaceutical sales increased 65%
to $2.5 billion in the fourth quarter of 2007 compared to the
same period in 2006, primarily due to increased PLAVIX sales,
as well as the continued growth of ABILIFY, REYATAZ, the SUSTIVA
Franchise and ERBITUX, and sales of newer products ORENCIA, BARACLUDE,
SPRYCEL and IXEMPRA.
The company announced in December plans
to cut 10% of its workforce or 4,300 jobs over the next two years
and shut half of its 38 manufacturing plants.
History
In 1887. William McLaren Bristol and John
Ripley Myers decided to sink $5,000 into a failing drug manufacturing
firm called the Clinton Pharmaceutical Company, located in Clinton,
NY. The company was officially incorporated on December 13, 1887,
with William Bristol as president and John Myers as vice president.
The partners worked hard to expand the
business, but at first it was an uphill struggle. From the start,
however, they had two rules: insist on high quality and maintain
the firm's good financial standing at all costs.
In May 1898 came a new name: Bristol, Myers
Company (a hyphen would replace the comma after Myers's death
in 1899, when the company became a corporation). Not until 1900
did Bristol-Myers break through into the black -- where it has
remained ever since.
In 1858 Edward Robinson Squibb founded
a pharmaceutical company in Brooklyn, NY, dedicated to the production
of consistently pure medicines.
In 1895 Squibb passed most of the responsibility
for managing the firm to his sons, Charles and Edward. The company
became known as E.R. Squibb & Sons.
In 1989, Bristol-Myers merged with Squibb,
creating what was then the world's second-largest pharmaceutical
enterprise.
In 1990 the Bristol-Myers Squibb Pharmaceutical
Research Institute was established with headquarters in Princeton,
NJ, and research facilities in Wallingford, CT, and other sites
around the world.
In June 2001, the company announced that
it had entered into a definitive agreement to acquire the DuPont
Pharmaceuticals Company for $7.8 billion, an acquisition intended
to further strengthen Bristol-Myers Squibb's medicines business.
In August 2001, the company completed the spin-off of the Zimmer
orthopaedics business, and the DuPont transaction officially
closed as of October 1, 2001.
In November 2002, the FDA approved Abilify
(aripiprazole) for the treatment of schizophrenia. It is jointly
marketed in the U.S. by Bristol-Myers Squibb and Otsuka America
Pharmaceutical, Inc. Bristol-Myers Squibb and Otsuka Pharmaceutical
Co., Ltd., are also collaborative partners in the development
and commercialization of aripiprazole in major European and Latin
American countries.
Reyataz (atazanavir sulfate), the first protease inhibitor for the treatment
of HIV/AIDS with once-a-day dosing, was introduced in the U.S.
in July 2003 and approved for marketing in Europe in March 2004.
On February 12, 2004, the FDA approved
Erbitux (Cetuximab), codeveloped and comarketed with ImClone
Systems Incorporated. This drug is used to treat patients with
colorectal cancer.
Bristol-Myers Squibb announced the FDA
approval of Orencia (abatacept) for the treatment of rheumatoid
arthritis on December 23, 2005. Orencia is the first in
a new class of medications for this disease.
Benefits
Bristol-Myers Squibb FLEX program lets
employees choose medical, dental and life insurance coverage
that fits their needs.
The company offers a savings and investment
plan that matches employee contributions 75 cents on the dollar
for the first 6% of pay. Company contributions vest over a five-year
period. A retirement plan is also offered based on years of service
and annual pay.
Paid vacation ranges from 2-6 weeks per
year. There are 9 fixed holidays annually and 4 optional holidays.
The company also offers flexible spending
accounts and disability insurance.
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