Bristol-Myers Squibb Profile

Bristol-Myers Squibb

Headquarters: 430 E. 29th Street, 14th floor
New York, NY 10016
Phone: 212-546-4000
Employees: 30,250
CEO: Giovanni Caforio
Stock Symbol: BMY

Websitehttp://www.bms.com

Career Site

Bristol-Myers Squibb Company is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.

57% of the company's total employees are based in the U.S. with 30,250 total employees in 47 countries.

In 2019, Bristol-Myers Squibb acquired Celgene for $74 billion and MyoKardia in 2020 for $13.1 billion.

In 2020, Bristol-Myers Squibb reported revenues of $42.5 billion, up 63% due to the acquisition of Celgene, and net loss of $8.99 billion.

The company's top medicines include: Revlimid, Eliquis, Opdivo, Orencia and Pomalyst/Innovid.

Bristol-Myers is developing new medicines in the following core therapeutic areas: (i) oncology with a priority in certain tumor types; (ii) hematology with opportunities to broaden our franchise and potentially sustain a leadership position in multiple myeloma; (iii) immunology with priorities in relapsing multiple sclerosis, psoriasis, lupus, RA and inflammatory bowel disease; (iv) cardiovascular disease and; (v) fibrotic disease with priorities in lung and liver.

The company received approval for 13 new medicines in 2020.

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.

In February 2012, Bristol-Myers Squibb acquired Inhibitex, Inc.

Benefits

Bristol-Myers Squibb lets employees choose medical, dental and life insurance coverage that fits their needs.

The company offers pay and annual bonuses based on individual and company performance.

The company offers a 401(k) plan that matches employee contributions dollar-for-dollar for the first 6% of pay. Additional contributions are made based on age and years of service.

Paid vacation ranges from 3 weeks a year to 4 weeks after five years of employment, 5 weeks after 15 years of service and 6 weeks at 25 years. There are 9 fixed holidays annually and 4 optional holidays. Employees also receive paid sick time and family care leave up to 8 weeks for newborns and caring for sick family members.

The company also offers flexible spending accounts, life insurance and disability insurance.

Larger campuses have fitness centers and on-site employee health care.

Kitchenettes with free coffee and tea.