Bristol-Myers

Bristol-Myers Squibb

Company type	Public
Industry	Pharmaceuticals
Founded	1887
Founders	William McLaren Bristol and John Ripley Myers
Key people	Giovanni Caforio (Chairman and CEO)
Products	Pharmaceuticals
Revenue	$42.52 billion (2022)
Number of employees	30,000 (2022)
Website	bms.com

Bristol-Myers Squibb (BMS) is a global biopharmaceutical company headquartered in New York City. It is one of the world's largest pharmaceutical companies, known for its innovative medicines in areas such as oncology, cardiovascular disease, immunology, and fibrosis.

History

Bristol-Myers Squibb was formed in 1989 through the merger of Bristol-Myers and Squibb Corporation.

Bristol-Myers

Bristol-Myers was founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, New York. The company initially focused on producing "pure" drugs, which were considered more effective than the impure drugs commonly available at the time.

Squibb Corporation

Squibb Corporation was founded in 1858 by Edward Robinson Squibb in Brooklyn, New York. Squibb was known for its high-quality pharmaceuticals and was a major supplier of medicines to the Union Army during the American Civil War.

Products and Research

Bristol-Myers Squibb is known for its research and development in several therapeutic areas:

• Oncology: BMS has developed several important cancer drugs, including Opdivo (nivolumab) and Yervoy (ipilimumab), which are immune checkpoint inhibitors used in the treatment of various cancers.
• Cardiovascular: The company markets Eliquis (apixaban), an anticoagulant used to prevent blood clots and reduce the risk of stroke.
• Immunology: BMS is involved in the development of drugs for autoimmune diseases, such as Orencia (abatacept) for rheumatoid arthritis.
• Fibrosis: The company is researching treatments for fibrotic diseases, including idiopathic pulmonary fibrosis.

Corporate Social Responsibility

Bristol-Myers Squibb is committed to corporate social responsibility, focusing on improving health outcomes for patients worldwide. The company supports various initiatives to increase access to medicines in low- and middle-income countries.

Acquisitions

In 2019, Bristol-Myers Squibb acquired Celgene Corporation, a biotechnology company known for its cancer and immunology drugs, in a deal valued at $74 billion. This acquisition significantly expanded BMS's oncology portfolio.

Controversies

Like many large pharmaceutical companies, Bristol-Myers Squibb has faced controversies, including legal challenges related to drug pricing and patent disputes.

Also see

• Pharmaceutical industry
• Biotechnology
• Drug development
• Merger and acquisition