What is Bristol-Myers Squibb Co.?
The Bristol-Myers Squibb Company is an international biopharmaceutical company specialising in discovering, developing and delivering innovative biopharmaceutical products and medicines to patients who suffer from serious diseases. Bristol-Myers Squibb provides medicines to help people fight cancer, hepatitis B and C, cardiovascular disease, HIV and AIDS. The company supplies its products to retail and wholesale pharmacies, governmental entities, and hospitals throughout the world.
What’s the history behind the company?
1858 – The Squibb corporation is founded by Edward Robinson Squibb in New York.
1887 – The Clinton Pharmaceutical company i purchased by William McLaren Bristol and John Ripley Myers. Two years later they rename it as “Bristol, Myers and Company”, and later, following Myers death in 1899 as the “Bristol-Myers Corporation”.
1903 – Sal Hepatica, a laxative salt is developed and released marking the first product for the company.
1943 – Acquisition of Cheplin Biological Laboratories, Bristol laboratories in 1945 creating antibiotics, is met with competition from Squibbs.
1989 – Bristol-Myers merges with Squibb to form Bristol-Myers Squibb, creating one of the world’s largest pharmaceutical companies.
1998 – Development of Excedrin Migraine, one of the first migraine medications available without a prescription in the US.
2004 – Bristol-Myers Squibb pays $150 million in a settlement for accounting fraud, the company does not admit or deny guilt. In 2006, the company is hit again by charges and pays $2.1 million to the Federal Trade Commission.
2008 – The company undertakes a number of partnerships, including therapy for cardiovascular diseases with KAI pharmaceuticals, cancer therapies with Kosan, and two novel therapies for cancer with Exelixis. These collaborations continue into 2009 with more added.
2010 – Lamberto Andreotti took over as CEO of Bristol-Myers Squibb. By 2012, the company’s net sales reach $17.6 billion.
2015 – Dr. Giovanni Caforio becomes the head of the company.
About the company
Bristol-Myers Squibb operates worldwide with locations such as Asia, including China and Japan, Southeast Asia in Bangalore India, across Europe in Belgium, England, France, Ireland and Italy, and North America. This includes a number of research and development facilities, vital to the creation of new pharmaceutical products.
Across its facilities, the company employs approximately 23,700 people. To date, Dr. Giovanni Caforio is the Chairman and CEO of the company with Charles Bancroft as CFO.
The company has numerous awards and achievements, including 2018 Best-of-the-Best Corporations for Inclusion by National Business Inclusion Consortium, Fortune’s World’s Most Admired Companies, Dow Jones' 2017 North American Index of Leading Sustainable Companies, and Forbes America’s Best Employers for 2016.
Key Statistics
- Revenue in 2017 – $20.78 billion
- Net income in 2017 – $975 million
- Total assets in 2017 – 33.55 billion
- Total equity in 2017 – 11.85 billion
Major acquisitions
- Adnexus Therapeutics – 2007
- Kosan Biosciences – 2008
- Medarex – 2009
- ZymoGenetics – 2010
- Amira Pharmaceuticals – 2011
- Inhibitex Inc. – 2012
- Amylin Pharmaceuticals and AstraZeneca – 2018
- iPierian – 2014
- Flexus Biosciences – 2015
- Cardioxyl – 2015
- Padlock Therapeutics – 2016
- Cormorant Pharmaceuticals – 2016
- IFM Therapeutics – 2017
Where is Bristol-Myers Squibb Co. traded?
Bristol-Myers Squibb is traded on the New York Stock Exchange (NYSE) under the ticker BMY. It is also a component of the S&P 100 and S&P 500. Trade the latest Bristol-Myers Squibb share price with Capital.com, explore the most up-to-date BMY charts, and delve into this pharmaceutical company.
