Bristol-Myers

Bristol-Myers. Bristol-Myers is a global biopharmaceutical company engaged in the discovery, development, and commercialization of medicines for serious diseases. Headquartered in New York City, it traces its origins to 1887 and has grown through significant acquisitions and research advancements to become a leader in oncology, immunology, and cardiovascular therapeutics. The company's portfolio includes several blockbuster drugs and it operates research facilities worldwide, including major centers in Princeton and Cambridge.

History

The company was founded in 1887 in Clinton, New York, by former William McLaren Bristol and John Ripley Myers as the Clinton Pharmaceutical Company. After incorporating in New York in 1900 as Bristol, Myers & Co., it initially focused on medicinal chemicals. A pivotal early product was Sal Hepatica, a laxative mineral salt launched in 1903. The firm relocated its headquarters to New York City in 1915. Post-World War II, under leaders like Lee Bristol and later Richard L. Gelb, it aggressively expanded through acquisitions, purchasing Clairol in 1959 and Mead Johnson in 1967, diversifying into consumer goods and infant formula. The 1989 merger with Squibb Corporation created Bristol-Myers Squibb, a pharmaceutical powerhouse, combining Squibb's cardiovascular expertise with its own growing research base. Landmark deals followed, including the 2009 acquisition of Medarex, which provided the foundation for its immunotherapy platform.

Products and operations

The company's core therapeutic areas are oncology, immunology, cardiovascular disease, and fibrosis. Its key products include the anticoagulant Eliquis (developed with Pfizer), the immunotherapy Opdivo, and the immunology drug Orencia. Other significant medicines are the leukemia treatment Sprycel, the melanoma therapy Yervoy, and the multiple myeloma drug Abecma, developed with bluebird bio. Historically, it marketed well-known over-the-counter products like Bufferin and Excedrin before divesting its consumer healthcare division. Major research and development operations are conducted at facilities in Princeton, Lawrenceville, Cambridge, and San Diego, with manufacturing sites across the United States, Puerto Rico, and Ireland.

Corporate affairs

The company is led by a board of directors chaired by former CEO Giovanni Caforio, with Christopher Boerner serving as Chief Executive Officer. It is a constituent of the S&P 500 and its shares trade on the New York Stock Exchange under the ticker symbol BMY. Its global commercial footprint spans over 50 countries, with significant markets in Europe, Japan, and China. The firm maintains numerous clinical research collaborations with academic institutions like Dana-Farber Cancer Institute and MD Anderson Cancer Center, as well as partnerships with biotechnology companies such as Nektar Therapeutics and AstraZeneca. It has also engaged in strategic divestitures, including the 2005 sale of its medical imaging business to Avista Capital Partners.

Legal and regulatory issues

The company has faced several major legal and regulatory challenges. In 2007, it entered a deferred prosecution agreement with the U.S. Department of Justice to settle allegations of fraudulent marketing practices related to the antipsychotic drug Abilify and the blood thinner Plavix. It paid over $500 million in fines and penalties. It has also been subject to multiple antitrust investigations, including a 2016 probe by the European Commission concerning the marketing of Opdivo and Yervoy. Patent litigation is common, such as ongoing cases defending Eliquis from generic competition. The company has settled numerous product liability lawsuits, including those related to the blood thinner Coumadin and the diabetes drug Onglyza.

See also

* Pharmaceutical industry in the United States * List of largest pharmaceutical companies * History of pharmacy * Drug development * Biotechnology

Category:Pharmaceutical companies of the United States Category:Companies listed on the New York Stock Exchange Category:Companies based in Manhattan Category:1887 establishments in New York (state)