Bristol-Myers Squibb

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Bristol-Myers Squibb

Post by kosovohp on Fri Dec 24, 2010 3:38 pm

Bristol-Myers Squibb (NYSE: BMY), often referred to as BMS, is a pharmaceutical company, headquartered in New York City. The company was formed in 1989, following the merger of its predecessors Bristol-Myers and the Squibb Corporation. Squibb was founded in 1858 by Edward Robinson Squibb in Brooklyn, New York, while Bristol-Myers was founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, New York (both were graduates of Hamilton College).
Lamberto Andreotti became the company's CEO on May 4, 2010. Former CEO James M. Cornelius remains chairman of the Board of Directors.
Bristol-Myers Squibb manufactures prescription pharmaceuticals in several therapeutic areas, including cancer, HIV/AIDS, cardiovascular disease, diabetes, hepatitis, rheumatoid arthritis and psychiatric disorders. Its mission is to "discover, develop and deliver innovative medicines that help patients prevail over serious diseases." Over the past several years BMS had been upping the price of its medicines to bolster profits. In 2008 Sprycel gained notoriety as the drug with the largest annual price increase, at 32%.
BMS' primary R&D sites are located in Princeton, New Jersey (formerly Squibb) and Wallingford, Connecticut (formerly Bristol-Myers), with other sites in Hopewell and New Brunswick, New Jersey, and in Braine-l'Alleud, Belgium, and Tokyo.

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