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Bristol-Myers Squibb

Headquarters: 345 Park Ave.
New York, NY 10154
Phone: 212-546-4000
Employees: 25,000
CEO: Lamberto Andreotti
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.

World headquarters are located in New York City and European headquarters are in Malmaison, France.

In fiscal 2014, Bristol-Myers Squibb reported revenues of $15.8 billion, down 3% from the previous year, and net income of $2.02 billion.

The company's best-selling products in 2014 were:

- ABILIFY, $2.02 billion
- ORENCIA, $1.65 billion
- SPRYCEL, $1.49 billion
- BARACLUDE, $1.44 billion
- SUSTIVA franchise, $1.44 billion
- REYATAZ, $1.36 billion

The company spent $4.53 billion on research and development in 2014.

The company announced regulatory approval of the medicine Opdivo which has had encouraging results in the treatment of lung cancer.

In February, Bristol-Myers Squibb announced it would acquire Flexus Biosciences for up to $1.25 billion. Flexus is a privately held biotechnology company focused on the discovery and development of novel anti-cancer therapeutics.

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 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. Employees also receive paid sick time.

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

Updated February 27, 2015

 

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