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About Bristol-Myers Squibb Company

Pharmaceutical giant Bristol-Myers Squibb (BMS) treats an array of maladies through its vast lineup of therapies. The biopharmaceutical's blockbuster drugs include cancer treatment Opdivo, rhemuatoid arthritis treatment Orencia, and Eliquis for stroke prevention. BMS also makes HIV treatments Reyataz and Sustiva. Most of the firm's sales come from products in the areas of oncology, cardiovascular care, immunology, and virology. BMS has global research facilities and manufacturing plants, mainly in the US and Europe, and its products are marketed to health care practitioners, hospitals, and managed care providers in 100 countries. The firm is buying Celgene Corporation, which makes blockbuster Revlimid for multiple myeloma, for $74 billion.


BMS's R&D efforts are focused on medicines that address serious unmet medical needs, with a special emphasis on the immuno-oncology arena. Other core therapeutic areas include immunoscience (especially lupus, rheumatoid arthritis, and inflammatory bowel disease), cardiovascular, and fibrotis disease.

Geographic Reach

While BMS serves a global customer base, the US market accounts for more than half of its annual revenues. The company's major research and development facilities are in New Jersey and Connecticut; it plans to sell the Connecticut site but will open a new R&D facility in Massachusetts. BMS has other sites in the US, the UK, Belgium, India, Japan, and other countries. It has about a dozen manufacturing facilities, which are located in the US and Puerto Rico, France, Italy, Ireland, Japan, Mexico, and China.

Sales and Marketing

US wholesale drug distributors McKesson, Cardinal Health, and AmerisourceBergen together account for about 60% of BMS' annual sales. In addition to wholesalers, the company also sells some products directly to customers including hospitals, clinics, physicians and nurse practitioners, government agencies, pharmacies, pharmacy benefit managers (PBMs) and managed-care organizations (MCOs). BMS employs a direct sales force in certain markets; it also uses independent marketing representatives.

Annual advertising expense of some $740 million goes towards television, radio, print, and digital promotion activities, which target consumers, medical professionals, benefit managers, and managed care organizations.

Financial Performance

The biggest financial story for BMS in 2016 and 2017 was the growing demand for cancer drug Opdivo, which helped turn around the declining revenue seen in prior years. In fact, the company had five other blockbuster drugs with rising sales in 2017, including Eliquis, Orencia, Sprycel, Baraclude, and Yervoy. Sales in the US and Europe also increased, further boosting revenue that year.

However, with rising expenses ranging from cost of products sold and higher R&D expenses to an increased provision for income taxes, the company's net income declined  77% to 1 billion.

BMS ended 2017 with $5.4 billion in cash and cash equivalents -- $1.2 billion more than it had at the end of 2016. Cash flow from operations, including an increase in deferred income taxes and income taxes payable, provided $5.3 billion. Investing and financing activities, including securities purchases and the repurchasing of common stock, used $66 million and $4.1 billion, respectively.


Following the loss of marketing rights to anti-psychotic medication Abilify and patent expirations for drugs including HIV treatments Reyataz and Sustiva, BMS is pinning its hopes on rising sales of newer medicines in fields including oncology, neurology, and metabolism. Its fastest-growing products include Opdivo (its biggest seller in 2017, bringing in $4.9 billion), Eliquis (its fastest grower, with a 44% increase in sales), Orencia, and Sprycel. In 2017, sales of Opdivo and Eliquis represented nearly 50% of total revenues.

Collaborations are an important part of BMS' development and marketing strategy. In the oncology arena, BMS has been collaborating with others to expand Opdivo's usage (the drug was approved for seven new indications in 2017 alone), and it continues to invest in its pipeline of additional cancer treatments.

In terms of cardiovascular treatments, an area in which the company has historically been a strong performer, Eliquis brought the company nearly $4.9 billion in 2017.

The company sold its pipeline of investigational HIV medications to ViiV Healthcare in 2016. Two years later, it agreed to sell its France-based OTC firm UPSA to Taisho Pharmaceuticals for $1.6 billion.

Mergers and Acquisitions

Acquisitions are a major piece of BMS's growth goals. In early 2019, the company agreed to buy Celgene Corporation for $74 billion. The combined company will have nine blockbuster drugs, including Celgene's top asset Revlimid, and six probable near-term product launches. Celgene and BMS agreed to sell one of the lead drugs, Otezla, to Amgen for $13.4 billion to meet FTC merger approval requirements.

Bristol-Myers Squibb Company

430 E 29TH ST FL 14
New York, NY 10016-8367
Phone: 1 (212) 546-4000

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: BMY
Stock Exchange: , NYSE
EVP, CFO, and Global Business Operations: Charles A. Bancroft
Chairman and CEO: Giovanni Caforio
SVP and CIO: Paul von Autenried
Employees (This Location): 1,200
Employees (All Locations): 23,300

Major Office Locations

New York, NY

Other Locations

Trussville, AL
Concord, CA
Mission Viejo, CA
Saratoga, CA
Solvang, CA
Evergreen, CO
Washington, DC
Wilmington, DE
Fleming Island, FL
Temple Terrace, FL
Atlanta, GA
Fort Wayne, IN
Mount Vernon, IN
Billerica, MA
Devens, MA
Troy, MI
Matthews, NC
Salisbury, NC
Bloomsbury, NJ
Bridgewater, NJ
Hillside, NJ
Lawrenceville, NJ
Pennington, NJ
Plainsboro, NJ
Princeton, NJ
Trenton, NJ
East Syracuse, NY
Elma, NY
Garden City, NY
New York, NY
Columbus, OH
Levittown, PA
Pittsburgh, PA
Southampton, PA
Austin, TX
Dallas, TX
Houston, TX
San Antonio, TX
Charleston, WV
Santiago, Chile
Mumbai, India
Anagni, Italy
Akita, Japan
Aomori, Japan
Asahikawa, Japan
Chiba, Japan
Fuchu, Japan
Fukuoka, Japan
Gifu, Japan
Hakodate, Japan
Hiroshima, Japan
Kagoshima, Japan
Kanazawa, Japan
Kitakyushu, Japan
Kobe, Japan
Koriyama, Japan
Kumamoto, Japan
Kyoto, Japan
Matsue, Japan
Matsumoto, Japan
Matsuyama, Japan
Morioka, Japan
Nagasaki, Japan
Nagoya, Japan
Naha, Japan
Niigata, Japan
Nukata-Gun, Japan
Oita, Japan
Okayama, Japan
Osaka, Japan
Saitama, Japan
Sakai, Japan
Sapporo, Japan
Sendai, Japan
Shizuoka, Japan
Takamatsu, Japan
Takasaki, Japan
Toyama, Japan
Tsu, Japan
Tsukuba, Japan
Utsunomiya, Japan
Yamagata, Japan
Yamaguchi, Japan
Yokohama, Japan
Dorval, Canada
Agen, France
Fontenay Sous Bois, France
Le Passage, France
Lysaker, Norway
Moscow, Russia
Braine-L'Alleud, Belgium
Saint Paul, Réunion
Porto, Portugal
Baie Mahault, Guadeloupe