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Bristol-Myers Squibb Company
Type Public(NYSE: BMY)
Founded 1887
Headquarters New York City, New York, USA
Key people James Cornelius,CEO
Industry Pharmaceutical
Employees 43,000 (2005)
Website www.bms.com
A Bristol-Myers Squibb research campus in Lawrenceville, New Jersey
A Bristol-Myers Squibb research campus in Lawrenceville, New Jersey

Bristol-Myers Squibb (NYSE: BMY), colloquially referred to as BMS, is a pharmaceutical corporation, formed by a 1989 merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were graduates of Hamilton College), and Squibb Corporation. A public company usually refers to a company that is permitted to offer its registered securities ( Stock, bonds, etc The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. The City of New York The United States of America —commonly referred to as the A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator For other uses of this term see Industry (disambiguation An industry (from Latin industrius, "diligent industrious" Employment is a Contract between two parties, one being the employer and the other being the employee. A website (alternatively web site or Web site, a back-construction from the Proper noun World Wide Web) is a collection of Web pages Lawrenceville is a Census-designated place and unincorporated area located within Lawrence Township in Mercer County, New Jersey. The New York Stock Exchange ( NYSE) is a Stock exchange based in New York City. A corporation is a separate legal entity usually used to conduct business William McLaren Bristol was one of the two co-founders (along with John Ripley Myers) of Bristol-Myers Squibb. John Ripley Myers was one of the two co-founders (along with William McLaren Bristol) of Bristol-Myers Squibb. Hamilton College is a private independent liberal arts college located in Clinton, New York. The New York City-based company's Chairman and CEO was most recently Peter R. Dolan. The City of New York A chief executive officer ( CEO) or chief executive is typically the highest-ranking corporate officer ( executive) or administrator Peter Dolan joined Bristol-Myers Squibb (BMS in 1988 as the VP Marketing of the Consumer Medicine over-the-counter business Dolan was fired in September 2006 for his handling of a patent dispute over the drug Plavix, and was replaced with interim CEO James Cornelius. Since that time, Mr. Cornelius has assumed the permanent role of CEO and Chairman upon the retirement of James Robinson, III. Mr. Robinson was appointed Chairman as part of the settlment regarding the "channel-stuffing" scandal (see Scandals and allegations). BMS' primary R&D sites are located in Lawrenceville, New Jersey (formerly Squibb) and Wallingford, Connecticut (formerly Bristol-Myers), with other sites around the US, in Ireland and in other countries.

In 2005, BMS was among 53 entities that contributed the maximum of $250,000 to the second inauguration of President George W. Bush. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. George Walker Bush ( born July 6 1946 is the forty-third and current President of the United States. [1] [2] [3]

BMS is a Fortune 500 Company (#129 in 2007 list). Please do not add the complete list of fortune 500 companies The list is copyrighted by Fortune which makes money by selling the content

Bristol-Myers Squibb manufactures prescription pharmaceuticals, over-the-counter drugs and health care products in several therapeutic areas. It is also the parent company of Mead Johnson which manufactures nutritional products such as Enfamil baby formulas and infant vitamin supplements like Tri-Vi-Sol and ConvaTec, a world leader in Ostomy and wound care products. Bristol-Myers Squibb has a mission to "Extend and Enhance Human Life" and works to provide help for areas of unmet medical need.

Contents

Spokesman

Lance Armstrong has appeared in several of the company's marketing campaigns, as a survivor of testicular cancer that was treated with BMS medication. Lance Armstrong (born Lance Edward Gunderson September 18 1971 is an American professional road racing cyclist for UCI ProTeam Team Astana Testicular cancer is Cancer that develops in the Testicles a part of the Male reproductive system

Pharmaceuticals

The following is a list of key pharmaceutical products as found on the Bristol-Myers Squibb "At A Glance" information page, retrieved 2006-09-28.

Taxol

At one time, BMS held the solitary contract to harvest the bark of endangered yew trees on United States territory for the manufacture of chemotherapy drug paclitaxel (Taxol). Aripiprazole (ay-ree-PIP-ray-zole (sold as Abilify) was approved by the Food and Drug Administration (FDA on November 15, 2002 for the Aripiprazole (ay-ree-PIP-ray-zole (sold as Abilify) was approved by the Food and Drug Administration (FDA on November 15, 2002 for the Atripla is a fixed dose combination drug for the treatment of HIV infection Efavirenz (brand names Sustiva and Stocrin) is a Non-nucleoside reverse transcriptase inhibitor (NNRTI and is used as part of highly active antiretroviral Irbesartan ( INN) (ɜrbəˈsɑrtən is an Angiotensin II receptor antagonist used mainly for the treatment of Hypertension. Irbesartan ( INN) (ɜrbəˈsɑrtən is an Angiotensin II receptor antagonist used mainly for the treatment of Hypertension. Hydrochlorothiazide, sometimes abbreviated HCT, HCTZ, or HZT is a popular Diuretic drug of the Thiazide class that acts by inhibiting Irbesartan ( INN) (ɜrbəˈsɑrtən is an Angiotensin II receptor antagonist used mainly for the treatment of Hypertension. Irbesartan ( INN) (ɜrbəˈsɑrtən is an Angiotensin II receptor antagonist used mainly for the treatment of Hypertension. Entecavir ( INN) (ɛnˈtɛkəvɪr is an oral Antiviral drug used in the treatment of Hepatitis B infection Entecavir ( INN) (ɛnˈtɛkəvɪr is an oral Antiviral drug used in the treatment of Hepatitis B infection Sestamibi is a Radiopharmaceutical used in Nuclear medicine imaging Emsam (selegiline transdermal system is a Transdermal patch using the Monoamine oxidase inhibitor (MAOI Selegiline. Selegiline (l-deprenyl Eldepryl Zelapar or Anipryl Veterinary) is a drug used for the treatment of early-stage Parkinson's disease, Depression Infant formula is an artificial substitute for human Breast milk, designed for Infant consumption Cetuximab (IMC-C225 -- marketed under the name Erbitux) is a chimeric Monoclonal antibody, an Epidermal growth factor receptor (EGFR inhibitor Cetuximab (IMC-C225 -- marketed under the name Erbitux) is a chimeric Monoclonal antibody, an Epidermal growth factor receptor (EGFR inhibitor Abatacept (marketed as Orencia) is a Fusion protein composed of an Immunoglobulin fused to the extracellular domain of CTLA-4, a molecule capable Abatacept (marketed as Orencia) is a Fusion protein composed of an Immunoglobulin fused to the extracellular domain of CTLA-4, a molecule capable Clopidogrel is a potent oral antiplatelet agent often used in the treatment of Coronary artery disease, Peripheral vascular disease, and Cerebrovascular Clopidogrel is a potent oral antiplatelet agent often used in the treatment of Coronary artery disease, Peripheral vascular disease, and Cerebrovascular Pravastatin (marketed as Pravachol or Selektine) is a member of the drug class of Statins used for lowering Cholesterol and preventing Cardiovascular Pravastatin (marketed as Pravachol or Selektine) is a member of the drug class of Statins used for lowering Cholesterol and preventing Cardiovascular Atazanavir, trade name Reyataz, (formerly known as BMS-232632 is an Antiretroviral drug of the protease inhibitor (PI class Atazanavir, trade name Reyataz, (formerly known as BMS-232632 is an Antiretroviral drug of the protease inhibitor (PI class Dasatinib, also known as BMS-354825, is a drug produced by Bristol-Myers Squibb and sold under the trade name Sprycel. Dasatinib, also known as BMS-354825, is a drug produced by Bristol-Myers Squibb and sold under the trade name Sprycel. Efavirenz (brand names Sustiva and Stocrin) is a Non-nucleoside reverse transcriptase inhibitor (NNRTI and is used as part of highly active antiretroviral Efavirenz (brand names Sustiva and Stocrin) is a Non-nucleoside reverse transcriptase inhibitor (NNRTI and is used as part of highly active antiretroviral Paclitaxel is a Mitotic inhibitor used in Cancer Chemotherapy. Paclitaxel is a Mitotic inhibitor used in Cancer Chemotherapy. For the HIV drug of the same name please see Didanosine. Videx is a Manufacturer of Access control products and Data Didanosine (2'3'-dideoxyinosine ddI) is sold under the trade names Videx and Videx EC. Stavudine (2'-3'-didehydro-2'-3'-dideoxythymidine d4T, brand name Zerit) is a nucleoside analog reverse transcriptase inhibitor (NARTI active against Stavudine (2'-3'-didehydro-2'-3'-dideoxythymidine d4T, brand name Zerit) is a nucleoside analog reverse transcriptase inhibitor (NARTI active against Taxus brevifolia ( Pacific Yew or Western Yew) is a conifer native to the Pacific Northwest of North America. The United States of America —commonly referred to as the Chemotherapy, in its most general sense refers to treatment of disease by chemicals that kill cells specifically those of micro-organisms or Cancer. Paclitaxel is a Mitotic inhibitor used in Cancer Chemotherapy. Current paclitaxel production comes from renewable sources. BMS also held the original paclitaxel license, but there are now multiple generic producers.

Products under development

The following is a list of products under development as found on the Bristol-Myers Squibb website, retrieved 2008-01-28.

Scandals and allegations

The company was involved in an accounting scandal[1] in 2002 that resulted in a significant restatement of revenues from 1999-2001. Ipilimumab (also known as MDX-010 or MDX-101) is a Human Monoclonal antibody being developed by Bristol-Myers Squibb and Medarex Belatacept is a Fusion protein composed of the Fc fragment of a human IgG1 immunoglobulin linked to the extracellular domain of CTLA-4, which is a molecule crucial for Saxagliptin ( rINN) previously identified as BMS-477118, is a new oral hypoglycemic ( Anti-diabetic drug) of the new dipeptidyl peptidase-4 (DPP-4 Pexacerfont ( BMS-562086) is a drug developed by Bristol-Myers Squibb which acts as a CRF-1 antagonist Dapagliflozin ( rINN / USAN) is an experimental SGLT2 inhibitor being studied by Bristol-Myers Squibb in partnership with AstraZeneca Accounting scandals, or corporate accounting scandals are political and business scandals which arise with the disclosure of misdeeds by trusted executives See also 2002 (disambiguation Year 2002 ( MMII) was a Common year starting on Tuesday of the Gregorian calendar. Year 1999 ( MCMXCIX) was a Common year starting on Friday (link will display full 1999 Gregorian calendar) Year 2001 ( MMI) was a Common year starting on Monday according to the Gregorian calendar. The restatement was the result of an improper booking of sales related to "channel stuffing", or the practice of offering excess inventory to customers in order to reflect higher sales numbers. Channel stuffing is the Business practice where a company or a Sales force within a company inflates its sales figures by forcing more products through a Distribution The company has since settled with the United States Justice Department and Securities and Exchange Commission related to this scandal, agreeing to pay $150 million but neither admitting nor denying guilt. The US Securities and Exchange Commission (commonly known as the SEC) is an independent agency of the United States government which holds primary responsibility [4]

According to an FTC consent order filed in 2003,[5] the company

engaged in a series of anticompetitive acts over the past decade to obstruct the entry of low-price generic competition for three of Bristol's widely-used pharmaceutical products: two anti-cancer drugs, Taxol and Platinol, and the anti-anxiety agent BuSpar. The Federal Trade Commission ( FTC) is an independent agency of the United States government, established in 1914 by the Federal Trade Commission Act A consent decree (also referred to as a consent order) is a judicial Decree expressing a voluntary agreement between parties to a suit, especially A generic drug (generic drugs short generics is a drug which is produced and distributed without Patent protection Paclitaxel is a Mitotic inhibitor used in Cancer Chemotherapy. Cisplatin, cisplatinum or cis -diamminedichloridoplatinum(II (CDDP is a Platinum -based Chemotherapy drug used to treat Buspirone (brand-names Ansial, Ansiced, Anxiron, Axoren, Bespar, BuSpar, Buspimen, Buspinol, [. . . ] Bristol avoided competition by abusing federal regulations in order to block generic entry; deceived the U. S. Patent and Trademark Office (PTO) to obtain unwarranted patent protection; paid a would-be generic rival over $70 million not to bring any competing products to market; and filed baseless patent infringement lawsuits to deter entry by generics.

The company has also been sued in this matter by state attorneys general to recover monetary damages.

A criminal investigation of the company was made public in July 2006, and the FBI raided the company's corporate offices. July 2006 was a month with thirty-one days The following events also occurred during the month The investigation centered around the distribution of Plavix and charges of collusion. Clopidogrel is a potent oral antiplatelet agent often used in the treatment of Coronary artery disease, Peripheral vascular disease, and Cerebrovascular [6]

On September 12, 2006, a federal monitor urged the company to remove then CEO Peter Dolan over the Plavix dispute. Events 1213 - Albigensian Crusade: Simon de Montfort 5th Earl of Leicester, defeats Peter II of Aragon at the Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Later that day, BMS announced that Dolan would indeed step down. [7].

Under Mr. Cornelius's reign, all executives involved in the "channel-stuffing" and generic competition scandals have since left the company. The latest being Andrew Bodner, Executive VP, who has been indicted due to his involvement in the Plavix-Apotex episode.


References

  1. ^ Drinkard, Jim. "Donors get good seats, great access this week", USA Today, 2005-01-17. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 38 BC - Octavian marries Livia Drusilla. 1287 - King Alfonso III of Aragon invades Minorca Retrieved on 2008-05-25. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1085 - Alfonso VI of Castile takes Toledo Spain back from the Moors.  
  2. ^ "Financing the inauguration", USA Today. Retrieved on 2008-05-25. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1085 - Alfonso VI of Castile takes Toledo Spain back from the Moors.  
  3. ^ "Some question inaugural's multi-million price tag", USA Today, 2005-01-14. Year 2005 ( MMV) was a Common year starting on Saturday (link displays full calendar of the Gregorian calendar. Events 1129 - Formal approval of the Order of the Templar at the Council of Troyes. Retrieved on 2008-05-25. 2008 ( MMVIII) is the current year in accordance with the Gregorian calendar, a Leap year that started on Tuesday of the Common Events 1085 - Alfonso VI of Castile takes Toledo Spain back from the Moors.  
  4. ^ SEC News Digest, August 9, 2004. Events 48 BC - Caesar's civil war: Battle of Pharsalus - Julius Caesar decisively defeats Pompey at Pharsalus "MMIV" redirects here For the Modest Mouse album see " Baron von Bullshit Rides Again "
  5. ^ News Release about Consent Order against Bristol-Myers, March 7, 2003
  6. ^ Business Report, 31 July 2006. Events 161 - Roman Emperor Antoninus Pius dies and is succeeded by co-Emperors Marcus Aurelius and Lucius Verus Year 2003 ( MMIII) was a Common year starting on Wednesday of the Gregorian calendar. Events 30 BC - Battle of Alexandria: Mark Antony achieves a minor victory over Octavian 's forces but most of his army subsequently Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Accessed 7 September 2006
  7. ^ CNN.com, 12 September 2006. Events 1251 BC - A Solar eclipse on this date might mark the birth of legendary Heracles at Thebes Greece. Year 2006 ( MMVI) was a Common year starting on Sunday of the Gregorian calendar. Accessed 12 September 2006

See also

External links

The following is a list of the 50 largest Pharmaceutical and Biotech companies ranked by healthcare revenue
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