Overview

Bristol Myers Squibb is an American multinational biopharmaceutical company headquartered in Princeton, New Jersey. It researches, develops, manufactures, and commercializes prescription medicines for serious and life-threatening conditions. Its principal therapeutic areas include oncology, hematology, immunology, cardiovascular disease, and selected neurological and psychiatric disorders. The company sells medicines globally, although the United States remains its largest market. BMS was created in 1989 through the merger of Bristol-Myers and Squibb. The two predecessor businesses had different but complementary histories. Squibb was founded in Brooklyn in 1858 by Edward Robinson Squibb, whose work emphasized pharmaceutical purity, quality control, and scientific standards. The company became an important supplier of medicines and medical supplies during the American Civil War and later built a major penicillin facility in New Brunswick, New Jersey. Bristol-Myers began in 1887, when William McLaren Bristol and John Ripley Myers acquired the Clinton Pharmaceutical Company in Clinton, New York. It became known for consumer and prescription products including Sal Hepatica, Ipana toothpaste, antibiotics, and later a range of household and personal-care brands. For much of the twentieth century, both businesses operated as diversified healthcare companies. Bristol-Myers expanded into consumer products, hair care, household goods, and over-the-counter medicines, while Squibb developed a strong prescription and hospital-medicine presence. The 1989 merger combined their research, manufacturing, commercial, and international capabilities. During the 2000s and 2010s, BMS progressively shifted away from the diversified consumer-products model and toward a focused specialty-biopharmaceutical strategy. It divested or separated several consumer businesses, reduced and consolidated manufacturing capacity, and concentrated investment on innovative medicines and biologic therapies. The company's modern portfolio was shaped by internal research, licensing, collaborations, and acquisitions. Important additions included Medarex, which strengthened antibody and immuno-oncology capabilities; Celgene, which brought major hematology and oncology products; MyoKardia, which added cardiovascular medicine; Turning Point Therapeutics and Mirati Therapeutics, which expanded targeted oncology; and Karuna Therapeutics, which provided the investigational KarXT program for schizophrenia. The Celgene transaction, completed after a shareholder vote and regulatory remedies that included the divestiture of Otezla to Amgen, was one of the largest strategic transformations in the company's history. BMS's major marketed medicines include Eliquis, an anticoagulant developed with Pfizer; Opdivo, an immune checkpoint inhibitor; Revlimid, Pomalyst, and Abraxane-related oncology and hematology products associated with the Celgene portfolio; Orencia for autoimmune disease; Yervoy for cancer; and Reblozyl for anemia associated with beta thalassemia and myelodysplastic syndromes. The company also commercializes cell therapies and other advanced treatments. In 2024, the U.S. Food and Drug Administration approved Cobenfy, a new type of schizophrenia treatment based on muscarinic receptor activity rather than the traditional dopamine-centered approach. BMS maintains research and development operations in the United States and internationally, including sites in New Jersey, Massachusetts, California, Belgium, Spain, Japan, India, and the United Kingdom. Its stated positioning is that of a research-based biopharmaceutical company addressing severe unmet medical needs. The company remains active and publicly traded on the New York Stock Exchange under the symbol BMY.

History

Bristol Myers Squibb combines the histories of two American pharmaceutical companies. Edward Robinson Squibb established Squibb in Brooklyn in 1858. He promoted unusually strict standards for pharmaceutical purity and published scientific material after concluding that prevailing industry standards were inadequate. Squibb supplied medical materials to the Union Army during the Civil War, including medicines, anesthetics, quinine, and portable medical kits. In 1944, the company opened a major penicillin plant in New Brunswick, New Jersey, helping support wartime production. Bristol-Myers originated in Clinton, New York, where William McLaren Bristol and John Ripley Myers acquired the Clinton Pharmaceutical Company in 1887. The business adopted the Bristol, Myers and Company name in 1898 and became the Bristol-Myers Corporation after Myers's death. Its early nationally recognized products included Sal Hepatica, a laxative mineral salt, and Ipana toothpaste. Over time, the company diversified into prescription medicines, antibiotics, consumer healthcare, hair products, and household products. During World War II, its acquisition of Cheplin Biological Laboratories enabled the production of penicillin for Allied forces. The two companies remained separate competitors for much of the twentieth century. Their businesses eventually converged around research, manufacturing, and commercialization of prescription medicines, and they merged in 1989 to form Bristol-Myers Squibb. The merger created a large diversified healthcare company with consumer, hospital, and prescription businesses. The combined company received the U.S. National Medal of Technology in 1999 for pharmaceutical research, development, and clinical-trial innovation. The early 2000s exposed challenges in the company's commercial and governance model. In 2006, federal investigators searched company offices in connection with allegations involving Plavix distribution, channel stuffing, and generic competition. A court-appointed monitor recommended the removal of CEO Peter Dolan, and Dolan stepped down. The deferred-prosecution arrangement ended in 2007 without further Department of Justice action on the matters covered by that agreement. From 2007 onward, BMS pursued a deliberate transformation into a specialty biopharmaceutical company. It reduced exposure to consumer products, separated Mead Johnson Nutrition, sold or divested additional consumer brands, closed or consolidated manufacturing facilities, and introduced productivity and workforce-reduction programs. Acquisitions and partnerships became central to the strategy. Medarex strengthened antibody research; ZymoGenetics added development assets; Inhibitex expanded hepatitis C research; Amylin temporarily broadened diabetes activities; and later purchases added capabilities in immuno-oncology, autoimmune disease, cardiovascular medicine, and targeted cancer therapy. The approval of Opdivo in 2014 marked a major point in BMS's rise as an immuno-oncology company. The medicine, a PD-1 inhibitor, became part of a broader cancer portfolio that also included Yervoy and later combination-based treatment approaches. During the following decade, BMS expanded through collaborations and acquisitions including Flexus Biosciences, Cardioxyl, Padlock Therapeutics, Cormorant Pharmaceuticals, and IFM Therapeutics. The 2019 Celgene acquisition was a defining corporate event. It significantly enlarged BMS's oncology and hematology portfolio and added products such as Revlimid and Pomalyst. The transaction faced opposition from some investors and required the divestiture of Otezla to Amgen to obtain regulatory clearance. Subsequent acquisitions continued to diversify the company: MyoKardia added cardiovascular medicine; Forbius and other transactions expanded development capabilities; Turning Point and Mirati strengthened targeted oncology; and Karuna added a novel neuroscience and psychiatric program. In the 2020s, BMS also invested in advanced manufacturing, artificial-intelligence-supported clinical research, cell therapy production, and external innovation. Partnerships with Cellares and Owkin reflected efforts to improve manufacturing and trial design. The FDA approval of Cobenfy in 2024 extended the company into schizophrenia treatment and demonstrated the breadth of its post-Celgene portfolio. BMS now operates as a global research-based biopharmaceutical company with major activities in oncology, hematology, immunology, cardiovascular disease, and selected neuroscience indications.

2024
BMS expanded into schizophrenia treatment
[1]Bristol Myers Squibben.wikipedia.org
The FDA approved Cobenfy, bringing a novel muscarinic approach to the company's commercial portfolio.
2022
BMS acquired Turning Point Therapeutics
[1]Bristol Myers Squibben.wikipedia.org
The acquisition expanded targeted oncology research, including repotrectinib.
2020
MyoKardia became part of BMS
[1]Bristol Myers Squibben.wikipedia.org
The acquisition added mavacamten and strengthened BMS's cardiovascular pipeline.
2019
BMS announced the Celgene acquisition
[1]Bristol Myers Squibben.wikipedia.org
The transaction reshaped the company around oncology and hematology and was completed with a required Otezla divestiture.
2014
Opdivo received FDA approval
[1]Bristol Myers Squibben.wikipedia.org
Nivolumab was approved for certain patients with advanced melanoma, establishing a major immuno-oncology franchise.
2006
CEO Peter Dolan stepped down
[1]Bristol Myers Squibben.wikipedia.org
Dolan left the chief executive role during the Plavix distribution and generic-competition controversy.
1999
BMS received the National Medal of Technology
[1]Bristol Myers Squibben.wikipedia.org
The company was recognized for pharmaceutical research, development, and clinical-trial innovation.
1989
Bristol-Myers and Squibb merged
[1]Bristol Myers Squibben.wikipedia.org
The merger created Bristol-Myers Squibb.
1944
Squibb opened a major penicillin plant
[1]Bristol Myers Squibben.wikipedia.org
The New Brunswick facility became an important site for large-scale penicillin production.
1887
Bristol and Myers acquired Clinton Pharmaceutical
[1]Bristol Myers Squibben.wikipedia.org
William McLaren Bristol and John Ripley Myers acquired the Clinton, New York pharmaceutical company that developed into Bristol-Myers.
1858
Squibb was established
[1]Bristol Myers Squibben.wikipedia.org
Edward Robinson Squibb founded the pharmaceutical business that became one of BMS's two historical predecessors.

Products and positioning

Research-based biopharmaceutical company focused on serious diseases and high unmet medical need.

Cardiovascular medicine
Eliquis
Apixaban is an oral anticoagulant developed and commercialized with Pfizer. It is used to reduce thromboembolic risk in several cardiovascular settings, including atrial fibrillation, and is one of BMS's largest commercial products.
Oncology immunotherapy · 2014
Opdivo
Nivolumab is a PD-1 immune checkpoint inhibitor. By helping restore T-cell activity against tumors, it is used across multiple cancer indications and is often studied or prescribed in combination with other oncology medicines.
Hematology and oncology
Revlimid
Lenalidomide is an immunomodulatory medicine used in conditions including multiple myeloma and certain myelodysplastic syndromes. It entered the BMS portfolio through the Celgene acquisition and remains a major hematology product.
Immunology
Orencia
Abatacept is an immune-modulating therapy used for autoimmune diseases including rheumatoid arthritis. It reduces T-cell activation and represents one of BMS's established immunology franchises.
Hematology and oncology
Pomalyst
Pomalidomide is an immunomodulatory anticancer medicine used primarily in multiple myeloma and also associated with treatment of AIDS-related Kaposi sarcoma. It is marketed as Imnovid in some markets.
Oncology immunotherapy
Yervoy
Ipilimumab is a CTLA-4 immune checkpoint inhibitor used in cancer treatment. It is an important component of BMS's immuno-oncology portfolio and is used in selected monotherapy and combination regimens.
Hematology
Reblozyl
Luspatercept is used to treat anemia associated with beta thalassemia and myelodysplastic syndromes. Its regulatory label has expanded over time, including use in selected lower-risk myelodysplastic-syndrome patients.
Neuroscience and psychiatry · 2024
Cobenfy
Cobenfy is the commercial name for the xanomeline and trospium combination acquired through Karuna Therapeutics. It was approved in the United States for adults with schizophrenia and uses a muscarinic mechanism distinct from conventional dopamine-receptor antipsychotics.
Consumer healthcare
Sal Hepatica
Sal Hepatica was an early nationally recognized Bristol-Myers product, marketed as a laxative mineral-salt preparation. It is no longer a current BMS product.
Oral care · 1901
Ipana
Ipana was a toothpaste brand introduced by Bristol-Myers in the early twentieth century. It formed part of the company's historic consumer-products portfolio and is no longer produced by BMS.

Controversies

2021
Bristol Myers Squibb sues Eugia Pharma over Sprycel patents
Bristol Myers Squibb filed a lawsuit against Eugia Pharma Specialties alleging that Eugia submitted an application to market a generic equivalent of Sprycel before the relevant patents expired. Bristol Myers Squibb seeks injunctive relief and monetary damages.
Source
2020
China suspends imports, sales and use of Bristol Myers Squibb paclitaxel product
In March 2020, China's National Medical Products Administration announced the suspension of imports, sales and use of Bristol Myers Squibb's albumin-bound paclitaxel product. The agency said the action was based on inspection findings at a U.S. contract manufacturing facility. The announcement identified the product as albumin-bound paclitaxel and described the measure as a suspension covering import, sale and use in China. The notice did not specify further details beyond the inspection findings at the contract manufacturing site as the basis for the decision.
Source
2006
Plavix distribution and channel-stuffing controversy
The FBI searched BMS corporate offices in connection with allegations involving Plavix distribution, channel stuffing, and generic competition. A court-appointed monitor urged removal of CEO Peter Dolan, who stepped down. The deferred-prosecution agreement ended in 2007 without further Department of Justice action on the matters covered by it.
Source

Marketing campaigns

2023Cellares cell-therapy manufacturing partnership
United States · International
BMS partnered with Cellares to explore robotic and automated production of CAR-T therapies, seeking to improve manufacturing consistency, capacity, and speed.
Outcome. Partnership announced; subsequent commercial outcome is not established in the supplied material.
Source
2022Owkin clinical-research collaboration
France · International
BMS invested in French artificial-intelligence company Owkin and planned collaboration on more precise and efficient clinical-trial design, initially in cardiovascular disease.
Outcome. Collaboration announced; long-term campaign results are not specified in the supplied material.
Source

Brand decisions

2024
Acquisition of Karuna TherapeuticsM&A
Background
BMS aimed to add a late-stage neuroscience asset and diversify beyond its core oncology and immunology franchises.
Action taken
BMS acquired Karuna and its lead muscarinic program, subsequently commercialized as Cobenfy.
Aftermath
The transaction enabled BMS to enter the modern schizophrenia-treatment market with a novel mechanism.
Acquisition value. $14 billion (2024)
Source
2020
Acquisition of MyoKardiaM&A
Background
BMS sought to reinforce cardiovascular medicine alongside its established oncology, immunology, and hematology businesses.
Action taken
The company acquired MyoKardia and obtained mavacamten and related cardiovascular development programs.
Aftermath
The acquisition broadened BMS's cardiovascular pipeline and commercial ambitions.
Acquisition value. $13.1 billion (2020)
Source
2019
Acquisition of CelgeneM&A
Background
BMS needed to strengthen its pipeline and expand its oncology and hematology franchises, including in response to competitive pressure in immuno-oncology.
Action taken
BMS agreed to acquire Celgene; regulatory clearance required Amgen to acquire Otezla from Celgene.
Aftermath
The transaction materially expanded BMS's oncology and hematology portfolio and became the company's defining strategic combination of the period.
Transaction value. Approximately $74 billion in equity value, or approximately $95 billion including debt (2019 announcement and transaction)
Source
2007
Shift toward a specialty biopharmaceutical modelStrategy
Background
BMS sought to reduce the complexity of its diversified healthcare structure and focus resources on innovative prescription medicines and biologic products.
Action taken
The company pursued alliances, acquisitions, consumer-business divestitures, manufacturing consolidation, productivity programs, and workforce reductions.
Aftermath
The strategy established the structure and therapeutic focus of the modern BMS.
Source

Recent events

Unconfirmed
FDA approves Orencia to prevent acute GVHD[5]FDA批准Orencia用于预防急性移植物抗宿主病healio.com
Reported: 2021-12-15
The FDA approved abatacept (Orencia, Bristol Myers Squibb) in combination with a calcineurin inhibitor and methotrexate to prevent acute graft-versus-host disease in adults and children aged 2 years or older undergoing stem cell transplantation from an unrelated donor.
2021-12-12
Antengene and Bristol Myers Squibb announce clinical trial collaboration[6]亚盛医药与百时美施贵宝宣布临床试验合作prnewswire.com
Reported: 2021-12-13
Antengene announced a clinical trial collaboration with Bristol Myers Squibb to evaluate ATG-017 in combination with Opdivo in a Phase 1/2 trial for advanced solid tumors. Antengene will sponsor and fund the study, and Bristol Myers Squibb will provide Opdivo.
2021-12-08
Bristol Myers Squibb sues Eugia Pharma over Sprycel patents[4]Bristol Myers Squibb sues Eugia Pharma over Sprycel patentslawstreetmedia.com
Reported: 2021-12-09
Bristol Myers Squibb filed a lawsuit against Eugia Pharma Specialties alleging that Eugia submitted an application to market a generic equivalent of Sprycel before the relevant patents expired. Bristol Myers Squibb seeks injunctive relief and monetary damages.
2021-10-08
Evotec and Bristol Myers Squibb expand neuroscience collaboration[7]Evotec与百时美施贵宝扩大神经科学合作stlouisstar.com
Evotec announced that its collaboration with Bristol Myers Squibb was expanded to include a new cell type, triggering a $9 million payment to Evotec. The expansion enables the companies to investigate neurodegenerative diseases using the additional cell type.
2021-08-03
WuXi STA completes acquisition of Couvet manufacturing facility[8]WuXi STA完成收购库韦制造工厂biospectrumasia.com
WuXi STA announced that it had completed its acquisition from Bristol Myers Squibb of a drug product manufacturing facility in Couvet, Switzerland. The facility added WuXi STA's first site in Europe and expanded its drug-product manufacturing capacity.
2021-05-06
DarwinHealth and Bristol Myers Squibb announce cancer-target research collaboration[9]DarwinHealth与Bristol Myers Squibb宣布癌症靶点研究合作prnewswire.com
Reported: 2021-05-06
DarwinHealth announced a scientific research collaboration with Bristol Myers Squibb called the Novel Cancer Target Initiative to identify novel cancer targets across tumor subtypes. DarwinHealth will provide proprietary drug-database information and analyses; it will receive an upfront payment and may receive development and commercialization milestone payments.
Unconfirmed
AVEO Oncology and Bristol Myers Squibb sign clinical trial collaboration agreement[10]AVEO Oncology与百时美施贵宝签署临床试验合作协议industry.caijing.com.cn
AVEO Oncology announced that it had signed a clinical trial collaboration and supply agreement with Bristol Myers Squibb to study Fotivda in combination with Opdivo for patients with advanced renal cell carcinoma. The companies planned a Phase III trial in the United States, Europe and Latin America.
2021-02-17
Bristol Myers Squibb and Molecular Templates enter oncology research collaboration[11]百时美施贵宝与Molecular Templates达成肿瘤研究合作finance.sina.com.cn
Reported: 2021-02-17
Bristol Myers Squibb and Molecular Templates entered a strategic research collaboration to discover and develop novel therapies against oncology targets. The agreement includes an upfront payment, potential milestone payments and tiered royalties; Molecular Templates will use its ETB platform and Bristol Myers Squibb will receive a license to develop and commercialize ETBs.
2021-02-05
FDA approves Breyanzi for certain forms of lymphoma[12]FDA批准Breyanzi用于治疗特定类型淋巴瘤medcitynews.com
Reported: 2021-02-06
The FDA approved lisocabtagene maraleucel, marketed by Bristol Myers Squibb as Breyanzi, as a treatment for adults with certain types of non-Hodgkin lymphoma.
2021-02-04
Bristol Myers Squibb reports 2020 financial results[13]百时美施贵宝公布2020年财务业绩investingnews.com
Reported: 2021-02-04
Bristol Myers Squibb reported fourth-quarter and full-year 2020 financial results, including full-year revenues of $42.5 billion.

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