Bristol-Myers Squibb – Company Information

Company Bristol-Myers Squibb Company
Headquarters 345 Park Avenue, New York, NY 10154, USA
CEO Lamberto Andreotti
CFO Charles Bancroft
Industry Biopharmaceuticals
Founder Merger of Bristol-Myers and Squib
Founded 1989
Type Public
NYSE stock symbol BMY
Revenue $15.879 billion (2014)
Net income $ 2,029 million (2014)
Earnings per share $1.20 USD (2014)
Employees 25,000 (2014)
Investor relations contact number: 609-252-4611

Bristol-Myers Squibb is an American multinational biopharmaceuticals company, based in New York City, USA.

The company focuses on discovering, developing, and manufacturing prescription pharmaceuticals for the treatment of various medical conditions, including cardiovascular disease, cancer, diabetes, psychiatric disorders, HIV/AIDS, hepatitis, and arthritis.

It is publicly listed on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘BMY’.

Bristol-Myers Squibb was created in 1989 after the merger of Bristol-Myers (founded in 1887 by William McLaren Bristol and John Ripley Myers) and the Squibb Corporation (founded in 1858 by Edward Robinson Squibb).

Its mission is to “discover, develop and deliver innovative medicines that help patients prevail over serious diseases.”

Bristol-Myers Squibb’s flagship drugs are: Abilify® (2013 sales of $2.3 billion), Sustiva® franchise (2013 sales of $1.6 billion), Reyataz® (2013 sales of $1.6 billion), Baraclude® (2013 sales of $1.5 billion), Orencia® (2013 sales of $1.4 billion), Sprycel® (2013 sales of $1.3 billion), and Yervoy® (2013 sales of $960 million).

The company invests heavily in research and development (R&D), which it claims is critical to its long-term competitiveness.

Its R&D facilities are located in: San Francisco (California) , Hopewell (New Jersey), New Brunswick (New Jersey), Plainsboro (New Jersey), Princeton (New Jersey), Wallingford (Connecticut), Waltham (Massachusetts), Seattle (Washington), Rueil-Malmaison (France), Braine-L’Alleud (Belgium), Tokyo (Japan), and Moreton (England).

Income statement data (in $ millions) 2014* 2013*
Net product sales $11,660 $12,304
Alliance and other revenues $4,219 $4,081
– Total Revenues $15,879 $16,385
Cost of products sold $3,932 $4,619
Marketing, selling and administrative $4,088 $4,084
Advertising and product promotion $734 $855
Research and development $4,534 $3,731
Other (income)/expense $210 $205
– Total Expenses $13,498 $13,494
Earnings Before Income Taxes, EBIT $2,381 $2,891
Provision for/(Benefit from) Income Taxes $352 $311
Net Earnings $2,029 $2,580
Net Earnings Attributable to Noncontrolling Interest $25 $17
Net Earnings Attributable to Bristol-Myers Squibb $2,004 $2,563
Balance sheet data (in $ millions)
Total assets $33,749 $38,592
Total liabilities $18,766 $23,356
Total Bristol-Myers Squibb Company Shareholders’ Equity $14,852 $15,154
Common share data (in $)
Earnings per Common Share – Basic $1.21 $1.56
Earnings per Common Share – Diluted $1.20 $1.54
Cash flow data (in $ millions)
Net cash provided by operating activities $3,148 $3,545
Net cash provided by (used in) investing activities $1,216 $(572)
Net cash used in financing activities $(2,437) $(1,068)
Cash and cash equivalents at beginning of year $3,586 $1,656
Cash and cash equivalents at end of year $5,571 $3,586

*Years Ended December 31

Source: “Bristol-Myers Squibb Company Form 10-K 2014”