Bristol-Myers Squibb: A global BioPharma leader – Tracing the innovative biotech core of $3.7 billion R&D Investment and $16.4 billion in Net Sales
May 12, 2014 by 2012pharmaceutical
Bristol-Myers Squibb (BMS): A global BioPharma leader – Tracing the innovative biotech core of $3.7 billion R&D Investment and $16.4 billion in Net Sales
Reporter: Aviva Lev-Ari, PhD, RN
BMS’s innovative biotech core represents +150 years of American leadership in Life Sciences and Pharmaceutics.
History
Our company has a strong legacy of innovation that began in New York in 1858 when Edward R. Squibb, M.D., founded a pharmaceutical company in Brooklyn, and in 1887 when two friends, William McLaren Bristol and John Ripley Myers purchased a struggling drug manufacturing firm in Clinton. Together, they laid the foundation for our company today — a global BioPharma leader that continues this legacy of innovation.
As a young U.S. Navy doctor, Edward Robinson Squibb (1819-1900) was so unimpressed by the quality of medicines available on ships during the Mexican War that he pitched the unfit drugs overboard. In 1858, he founded his own pharmaceutical laboratory in Brooklyn, New York. E.R. Squibb, M.D. was dedicated to the production of consistently pure medicines.
1858
Squibb became the source of medicines for the Union Army during the Civil War. He invented the Squibb pannier—a compact wooden medicine chest used on the battlefield—filled with some 50 medicines to treat casualties. The chest sold for about $100, and included ether and chloroform for use as an anesthetic during amputations, quinine and whiskey to treat symptoms of malaria, and herbal treatments for dysentery and other diseases that ravaged the unsanitary military camps.
1860
August 2012
Bristol-Myers purchased Clairol, a company founded by the husband-and-wife team of Lawrence Gelb and Joan Clair. Clairol transformed hair coloring from a difficult-to-use specialty item into a highly successful mainstream consumer product.
1959
E.R. Squibb & Sons marketed the world’s first electronic toothbrush in 1961. By 1990 more than 150 other brands of automatic toothbrushes were introduced, most of which essentially imitated the original Squibb model invented by Professor Philippe G. Woog.
1961
1967
Bristol-Myers acquired
Mead Johnson & Company, a leader in science-based infant and children’s nutrition. Mead Johnson introduced its first baby formula in 1910 and over the decades expanded into vitamins, pharmaceutical products and prenatal nutrition. The Enfamil® brand grew to be recognized worldwide for its leadership in pediatric nutrition.
1967
Squibb delved into cancer research, discovering and developing hydroxyurea for leukemia and advanced ovarian cancer.
For a time, Bristol-Myers was in show biz. In 1970, the company formed Palomar Pictures, which produced “The Taking of the Pelham One, Two, Three,” starring Walter Matthau and Robert Shaw, and “The Stepford Wives,” starring Katharine Ross and Paula Prentiss. Palomar was terminated in 1974.
1970
Squibb established worldwide headquarters in Princeton, New Jersey. It also expanded facilities for the Squibb Institute in Princeton, New Jersey. This expansion allowed Squibb to make more groundbreaking discoveries and advancements in medical research.
1971
In the 1970s Bristol-Myers introduced several early medicines, beginning in 1973 with BLENOXANE® (bleomycin sulfate) for squamous cell cancers, head and neck cancers, and non-Hodgkins lymphomas; followed in 1974 with MUTAMYCIN® (mitomycin) for bone cancer and stomach and pancreas tumors; in 1976 with CEENU® (lomustine), a chemotherapy product for brain cancer and Hodgkins lymphoma; in 1977 with BICNU (carmustine), for treatment of brain and lymphatic cancers; and in 1978 with anticancer agents PLATINOL and LYSODREN (mitotane).
1973
Squibb researchers Miguel A. Ondetti (on left) and David W. Cushman created CAPOTEN (captopril)®; the first in a new class of high blood pressure agents called ACE (angiotensin-converting enzyme) inhibitors. CAPOTEN was an important new medical discovery for the treatment of patients with high blood pressure.
1975
Squibb sold a dental bandage in the 1970s that maintained its stickiness on warm, moist surfaces. At the time, ostomy patients were forced to use irritating substances such as rubber cement and adhesive tape to secure their ostomy pouches to their bodies. Squibb formed ConvaTec as a separate division in 1978 to develop adhesive skin barriers and products that could give people with an ostomy new freedom. Headquartered in Skillman, New Jersey, ConvaTec grew into a global company with 3,000 employees in 100 countries.
1978
Bristol-Myers marketed VEPESID® (etoposide) for cancer.
1983
Bristol-Myers opened a state-of-the-art research complex in Wallingford, Connecticut, designed to house more than 800 scientists and support staff. In 1995, this facility was named the Richard L. Gelb Center for Pharmaceutical Research and Development after the former Bristol-Myers chairman and CEO.
1986
Bristol-Myers merged with Squibb, creating a global leader in the health care industry. The merger created Bristol-Myers Squibb company, which was then the world’s second-largest pharmaceutical enterprise.
1989
PARAPLATIN® (carboplatin) was approved for the treatment of recurrent ovarian cancer.
Approvals in 1991 included two cardiovascular medicines, PRAVACHOL® (pravastin sodium) and MONOPRIL® (fosinopril sodium).
PRAVACHOL® (pravastatin sodium)
Prescribing Information
Bristol-Myers Squibb developed a new compound, TAXOL® (paclitaxel). The company invested hundreds of millions of dollars to supply TAXOL for clinical trials, prepare data for regulatory submission and develop alternative sources of TAXOL (which originally derived from the bark of the endangered Pacific Yew tree). TAXOL launched in 1993.
An antibiotic, CEFZIL® (cefprozil) was approved in 1992.
1992
The company completed its acquisition of Union Pharmacologique Scientifique Appliquee (UPSA), a leading manufacturer of pharmaceutical and consumer medicines, based in France. It acquired GLUCOPHAGE® (metformin hydroxchloride), from Lipha Pharmaceuticals, Inc. and received FDA approval of ZERIT® (stavudine).
GLUCOPHAGE® (metformin hydrochloride)
Prescribing Information
ZERIT® (stavudine)
Prescribing Information including Boxed WARNINGS
Medication Guide
1994
The company had more than 60 product lines with $50 million or more in annual sales worldwide. PRAVACHOL® (pravastatin sodium) granted expanded usage from the FDA.
PRAVACHOL® (pravastin sodium)
Prescribing Information including Boxed WARNINGS
1995
The FDA granted clearance to market EXCEDRIN® Migraine for the relief of migraine headache pain and associated symptoms. Excedrin became the first migraine headache medication available to consumers without a prescription.
1998
President Bill Clinton awarded the National Medal of Technology to Bristol-Myers Squibb —America’s highest honor for technological innovation—“for extending and enhancing human life through innovative pharmaceutical research and development, and for redefining the science of clinical study through groundbreaking and hugely complex clinical trials that are recognized models in the industry.”
Bristol-Myers Squibb announced
SECURE THE FUTURE®, a $100 million commitment to advance HIV/AIDS research and community outreach programs in seven African countries: Botswana, Namibia, Lesotho, Swaziland, Uganda, Burkina Faso and Tanzania.
1999
Bristol-Myers Squibb, together with four other pharmaceutical companies and international agencies, joined the UNAIDS Drug ACCESS Initiative. The ACCESS program aimed to make antiretroviral medicines and therapies more widely available in African countries by reducing prices. The company offered to lower the prices of HIV/AIDS medicines in those countries by 90 percent.
2000
Bristol-Myers Squibb committed $15 million for extending
SECURE THE FUTURE® to four Western African countries—Burkina Faso, Côte d’Ivoire, Mali and Senegal.
Bristol-Myers Squibb announced a new strategy that included a sharpened focus on medicines and an aggressive external development program. As part of this new strategy, the company sold its Clairol business.
The company launched GLUCOVANCE® (glyburide and metformin hydrochloride), a single-pill combination of metformin and glyburide. It also launched GLUCOPHAGE XR (metformin hydrochloride), a once-daily formulation of GLUCOPHAGE.
GLUCOVANCE® (glyburide and metformin hydrochloride)
Prescribing Information
GLUCOPHAGE® (metformin hydrochloride)
Prescribing Information
GLUCOPHAGE® XR EXTENDED RELEASE (metformin hydrochloride)
Prescribing Information
Bristol-Myers Squibb was chosen “America’s Most Admired Pharmaceutical Company” by FORTUNE Magazine.
2001
The Bristol-Myers Squibb Children’s Hospital opened in March 2001 as part of the Robert Wood Johnson University Hospital in New Brunswick, New Jersey. The first freestanding children’s hospital in the state, the hospital offered care without regard to the family’s ability to pay and offered more than 45 pediatric specialties.
The company sponsored the Bristol-Myers Squibb TOUR OF HOPE™, an unprecedented week-long coast-to-coast cycling event. En route, the 26-member team of cancer survivors, caregivers, physicians, nurses and researchers raised awareness of cancer research and the importance of clinical trials in developing new treatments. Building on the success of the 2003 event, Bristol-Myers Squibb again to sponsored the 2004 Tour of Hope coast-to-coast cycling event.
2003
Bristol-Myers Squibb announced a new strategy to transform itself from a midcap pharmaceutical company to a next-generation BioPharma company focused on the discovery and development of innovative medicines to fight serious diseases. To accelerate this transformation, the company introduced the
String of Pearlsapproach to complement and enhance its internal capabilities with a suite of
innovative alliances, partnerships and acquisitions with small and large companies.
2007
Bristol-Myers Squibb acquired Adnexus Therapeutics, developer of a new class of biologics called Adnectins™. The acquisition helped advance Bristol-Myers Squibb’s biologics strategy across multiple therapeutic areas and included a Phase I oncology biologic, CT-322. Adnexus was the first acquisition in the company’s String of Pearls strategy, which aims to accelerate the discovery and development of new therapies with innovative alliances, partnerships and acquisitions.
Underscoring its worldwide commitment to children with HIV/AIDS, Bristol-Myers Squibb opened a new clinical center at the Bristol-Myers Squibb Children’s Hospital at Robert Wood Johnson University Hospital in New Brunswick, New Jersey. Dedicated to the research and treatment of children’s immune system disorders and infectious diseases, the Bristol-Myers Squibb Pediatric Infectious Disease and Immunology Center was made possible by a $5 million gift from the Bristol-Myers Squibb Foundation.
Bristol-Myers Squibb sold its Medical Imaging business to the private equity firm Avista Capital Partners for $525 million, as part of its effort to focus on its core pharmaceutical pipeline. Bristol-Myers Squibb also sold its ConvaTec business unit to Nordic Capital Fund VII and Avista Capital Partners for $4.1 billion. ConvaTec was a world leader in the development and marketing of innovative wound therapeutics and ostomy care products.
2008
Bristol-Myers Squibb announced in April 2008 its plan to sell approximately 10-20 percent of Mead Johnson Nutrition Company stock to the public through an IPO and to retain at least an 80 percent equity interest for the foreseeable future. This announcement, in addition to the Medical Imaging and ConvaTec sales, was part of the BioPharma transformation to better focus Bristol-Myers Squibb on its biopharmaceutical business.
Bristol-Myers Squibb entered into an exclusive agreement with KAI Pharmaceuticals, Inc., a privately held biotechnology company, to globally develop and commercialize a therapy for cardiovascular diseases.
Bristol-Myers Squibb purchased Kosan Biosciences, a cancer therapeutics company based in California, for approximately $190 million. This acquisition enhanced the company’s pipeline with compounds in two important classes of anticancer agents.
Bristol-Myers Squibb entered into an exclusive agreement with PDL BioPharma of Redwood City, California to develop and globally commercialize a therapy for multiple myeloma.
Bristol-Myers Squibb entered into a global collaboration with Exelixis, a biotechnology company based in San Francisco, California, to develop and commercialize two novel therapies: one for medullary thyroid cancer and the other as a treatment for advanced solid tumor malignancies.
Bristol-Myers Squibb entered into a global collaboration with ZymoGenetics of Seattle, Washington to develop and commercialize PEG-Interferon lambda, a new treatment for hepatitis C.
2009
Bristol-Myers Squibb entered into a global collaboration with Nissan Chemical Industries and Teijin Pharma for the development and commercialization of an oral atrial-selective antiarrhythmic medication.
Bristol-Myers Squibb acquired Medarex Inc., a biotech company and a partner since 2005. This acquisition was the largest String of Pearls transaction to date, and significantly expanded Bristol-Myers Squibb’s oncology and immunology pipeline, positioned the company for long-term leadership in biologics and allowed it to gain full rights for ipilimumab.
Bristol-Myers Squibb entered into a global collaboration with Alder Biopharmaceuticals Inc. of Bothell, Washington, to develop and commercialize a novel investigational biologic for the treatment of rheumatoid arthritis.
On December 23, the company completed its strategic
split-off of its shares of Mead Johnson. The split-off focuses Bristol-Myers Squibb completely on its biopharmaceutical business, and completed the company’s transformation to a BioPharma leader.
Bristol-Myers Squibb and Allergan, Inc. announced a global agreement for the development and commercialization of an oral medication for the treatment of neuropathic pain.
2010
2011
In September, Bristol-Myers Squibb acquired
Amira Pharmaceuticals, a small-molecule pharmaceutical company focused on the discovery and early development of new drugs to treat inflammatory and fibrotic diseases.
In February 2012, Bristol-Myers Squibb acquired Inhibitex, Inc.
In February 2014,
Bristol-Myers Squibb sold its global diabetes business to AstraZeneca. The transaction includes the rights to Bristol-Myers Squibb’s global diabetes business that was part of its collaboration with AstraZeneca, the former Amylin manufacturing facility in West Chester, Ohio, and also covers the future purchase by AstraZeneca of Bristol-Myers Squibb’s Mount Vernon, Indiana, manufacturing facility approximately 18 months following the close of the deal.
2014
SOURCE
Key Facts
Please click on the product links to see the Full Prescribing Information for ABILIFY®, ATRIPLA®,BARACLUDE®, ELIQUIS®, ERBITUX®, NULOJIX®, ORENCIA®, PLAVIX®, REYATAZ®, SPRYCEL®,SUSTIVA®, and YERVOY®, including Boxed WARNINGS for ABILIFY®, ATRIPLA®, BARACLUDE®,ELIQUIS®, NULOJIX®, and Boxed WARNINGS for YERVOY® regarding immune-mediated adverse reaction and Boxed WARNINGS for ERBITUX® regarding infusion reactions and cardiopulmonary arrest.
February, 2014
SOURCE
http://www.bms.com/ourcompany/Pages/keyfacts.aspx
Achievements
What sets Bristol-Myers Squibb apart? It’s our commitment to patients with serious diseases, and our focus on finding innovative medicines to combat those diseases.Over the years, Bristol-Myers Squibb and its employees have received numerous distinguished awards and recognitions, including the National Medal of Technology, the Lasker Award for Medical Research and the Prix Galien Award. Also, we’ve been hailed year after year as one of the best companies for working mothers, a great place to work for scientists and an acknowledged industry leader in environment, health and safety.
Below is a selection of awards and recognitions we have received.
In April 2014, Bristol-Myers Squibb ranked first among health care companies on Corporate Responsibility magazine’s 2014 list of the 100 Best Corporate Citizens. Bristol-Myers Squibb is the only company to achieve the No. 1 ranking three times, including 2009 and 2012, and has ranked among the top 10 each of the last six years.
In September 2013, Bristol-Myers Squibb was recognized as one of the 2013 Working Mother 100 Best Companies – marking the 16th consecutive year that our company has made the list. The company was recognized for its commitment to progressive workplace programs, such as child care, flexibility and paid family leave.
In May, Bristol-Myers Squibb received a 2013 Environmental Tracking (ET) Carbon Ranking Leader Award as a result of being named a top 10 company in the 2013 ET North America 300 Carbon Ranking report, issued by the Environmental Investment Organization. Our company ranked in the top 30 in the 2013 ET Global 800 Carbon Ranking.
In April, Bristol-Myers Squibb was chosen as one of the 2013 Top 50 Companies for Diversity by Diversity Inc. The ranking is based on a company’s answers to a detailed survey divided into four equally weighted areas: CEO Commitment, Human Capital, Corporate and Organizational Communications and Supplier Diversity. This year, 893 companies participated in the survey.
For the eighth year in a row, Bristol-Myers Squibb received the top rating of 100 percent in the Corporate Equality Index. The report, released annually by theHuman Rights Campaign Foundation — the nation’s largest lesbian, gay, bisexual and transgender civil rights organization — provides an in-depth analysis and rating of large U.S. employers and their policies and practices. This year’s index rated 688 businesses.
In February 2013, the National Association for Female Executives selected Bristol-Myers Squibb as one of the Top 50 Company for Executive Women, for the 11th consecutive year. Companies on this year’s list of 50 companies must have at least two women on the board of directors, a significant number of women in senior ranks and programs and policies that support women’s advancement.
In July 2012, Ethisphere Institute, a leading international think-tank dedicated to the research and promotion of best practices in corporate ethics and compliance, awarded Bristol-Myers Squibb the Compliance Leader Verification Award. The award recognizes companies with best-in-industry ethics and compliance programs — those organizations that have made the decision to proactively invest resources in compliance, sending a clear signal to key stakeholders that compliance and ethics are an absolute organizational priority.
In 2011, Bristol-Myers Squibb received a Prime Company rating for the fourth time in a row from oekom research, a leading European sustainability rating firm. Using social and environmental criteria, Prime Status is awarded to companies that are among the leaders in their industry.
Bristol-Myers Squibb was recognized as 78th among 500 of America’s largest corporations in Newsweek’s 2012 Green Rankings.
In January 2011, Bristol-Myers Squibb was recognized by R&D Directions magazine as having the “Most Innovative Pipeline” within the pharmaceutical industry.
According to a report released by the Roberts Environmental Center at Claremont McKenna College, Bristol-Myers Squibb earned the highest score in the pharmaceutical sector for sustainability reporting. The report compiled Pacific Sustainability Index scores evaluating the environmental and social reporting of the 26 largest pharmaceutical companies worldwide.
Our corporate website was recognized with the Best in Class award for a pharmaceutical company in 2009 by the Interactive Media Awards.
Bristol-Myers Squibb’s Investor Relations department was rated the best in the pharmaceutical business by investors polled by Institutional Investor magazine, a leading international business-to-business publisher focused primarily on international finance.
Bristol-Myers Squibb awarded the Allicense 2009 Breakthrough Alliance Award for collaboration with Exelixis. This is the second year in a row that the company has been presented with this prestigious recognition, which honors the world’s best and most innovative partnerships between biotechnology and pharmaceutical companies.
FORTUNE China named Bristol-Myers Squibb China a Top Ten Green Company for 2009 in recognition of Bristol-Myers Squibb’s hepatitis awareness, prevention and care efforts in Asia. Since 2002, Bristol-Myers Squibb China has partnered with the Bristol-Myers Squibb Foundation and local non-profit organizations on 11 hepatitis prevention and control projects that have directly benefited seven million people.
Barron’s 2009 Most Respected Companies Survey includes Bristol-Myers Squibb as theworld’s 40th most respected company. The survey reflects opinions of money managers for the 100 largest public companies in the world based on stock market capitalization. A variety of attributes contribute to the overall score, including strong management, sound business strategy, ethical practices and financial performance.
Calvert, a leader in socially responsible investing, has created the Calvert Social Index®, a broad-based, rigorously constructed benchmark for measuring the performance of socially responsible companies. Calvert’s Social Research Department analyzes the top 1,000 largest U.S. companies annually. Bristol-Myers Squibb has been on its Social Index of companies since 2003.
The Asian American Legal Defense and Education Fund honored Sandra Leung, senior vice president, general counsel and corporate secretary, as a recipient of its 2009 Justice in Action Award. The award, which recognizes exceptional individuals for their outstanding achievements and contributions in advancing justice and equality, was presented in March in New York.
The Division of Medicinal Chemistry of the American Chemical Society will present John E. Macor, executive director, Neuroscience Discovery Chemistry, Research and Development, with the 2009 Robert M. Scarborough Memorial Award. This prestigious achievement recognizes scientists under the age of 50 who have documented success in the discovery of pharmaceutical compounds and who have made significant research contributions in medicinal chemistry. Macor was cited for the discovery of an anti-migraine medicine as well as a number of other clinical discoveries. The society will bestow the award at its annual meeting later this year.
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SOURCE
http://www.bms.com/responsibility/Pages/achievements.aspx
Other related articles published in this Open Access Online Scientific Journal include the following:
Coagulation Therapy: Leading New Drugs – Efficacy Comparison
Curator: Aviva Lev-Ari, PhD, RN
http://pharmaceuticalintelligence.com/2014/05/10/coagulation-therapy-leading-new-drugs-efficacy-comparison/
Apixaban (Eliquis): Mechanism of Action, Drug Comparison and Additional Indications
Curator: Aviva Lev-Ari, PhD, RN
http://pharmaceuticalintelligence.com/2014/05/10/apixaban-eliquis-mechanism-of-action-drug-comparison-and-additional-indications/
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