Bristol Myers Squibb (BMS) history, company profile (overview) and history video
Bristol Myers Squibb (BMS) is a global biopharmaceutical company headquartered in New York, United States. It focuses on discovering, developing and delivering innovative medicines in different therapeutic areas, including oncology and hematology, immunology and cardiovascular disease, fibrotic diseases, and neuroscience.
HISTORY
Bristol Myers Squibb was formed in 1989 through the merger between Bristol-Myers and Squibb.
Bristol-Myers
Bristol-Myers was established in 1887 when William McLaren Bristol and John Ripley Myers purchased the Clinton Pharmaceutical Company.
In 1899, Bristol and Myers renamed their business the Bristol, Myers Company.
In 1929, Bristol-Myers became a public company listed on the New York Stock Exchange.
In 1943, Bristol-Myers acquired Cheplin Biological Laboratories, enabling it to mass-produce penicillin during World War II. This marked the company’s entry into ethical drug development.
In 1956, Bristol-Myers entered the cancer drug development field, building on collaborations around promising antibiotics with the Microbial Chemistry Research Foundation of Japan.
Squibb
Squibb was established in 1858 when Edward Robinson Squibb rented a brownstone in Brooklyn, New York, and began pharmaceutical manufacturing operations.
During the Civil War, Squibb manufactured compact, portable chests for military surgeons that contain medicines and equipment – from ether and morphine to bandages and sponges.
In 1892, Dr. Squibb formed a partnership with his sons, Edward and Charles, and the firm was renamed E.R. Squibb & Sons.
During World War I, E.R. Squibb & Sons served as the primary supplier of antitoxins, serums and vaccines produced by the Squibb Biological Laboratories division.
During the first decades of the 20th century, E.R. Squibb & Sons produced vaccines, laying the foundation for the modern pharmaceutical industry. For the first time, common ailments like diphtheria, tuberculosis, tetanus and typhoid fever could be prevented.
In 1955, Squibb and Hoffman-La Roche shared the Lasker Award for their work on the anti-tubercular agent isoniazid. This is the first time the Lasker Award is bestowed on the pharmaceutical industry.
Bristol Myers Squibb
In 2001, Bristol Myers Squibb (BMS) acquired DuPont pharmaceuticals, strengthening its HIV and cardiovascular businesses while also adding medical imaging.
In 2009, BMS acquired the biotech company Medarex, Inc., expanding the company’s oncology and immunology pipeline.
In 2019, Bristol-Myers Squibb acquired Celgene, in a deal that is considered one of the largest pharmaceutical-company acquisitions. Celgene was founded in 1986 by David Stirling, Ph.D. and Sol Barer, Ph.D. as an independent biotechnology company.
In 2020, BMS acquired MyoKardia, strengthening the company’s leading cardiovascular franchise, and Forbius, adding a lead TGF-beta asset to the portfolio.
Since 2020, Bristol Myers Squibb has adopted a new logo and identity to reflect the company’s transformation.
MERGERS AND ACQUISITIONS
- Adnexus Therapeutics
- ConvaTec
- Kosan Biosciences
- Medarex (2009)
- ZymoGenetics (2010)
- Amira Pharmaceuticals
- Inhibitex Inc (2012)
- Amylin Pharmaceuticals (2012; jointly with AstraZeneca)
- iPierian (2014)
- Flexus Biosciences (2015)
- Cardioxyl (2015)
- Padlock Therapeutics (2016)
- Cormorant Pharmaceuticals (2016)
- IFM Therapeutics (2017)
- Celgene (2019)
- MyoKardia (2020)
- Forbius (2020)
With more than 30 000 employees, Bristol Myers Squibb is considered one of the world’s largest pharmaceutical companies. According to Forbes, it is considered one of the Largest Public Companies in the World.
*Information from Forbes.com, Wikipedia.org, and ”www.bms.com”.
**Video published on YouTube by “Companies History“.