Commonly referred to as BMS, the Bristol-Myers Squibb is company which runs their business on pharmaceutical field. It was established in 1989 from a merger between pharmaceutical companies Bristol-Myers Company, founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, NY (both were graduates of Hamilton College), and E.R. Squibb Corporation.

Series of scandals has crippled the company through the 2000’s which included “channel-stuffing” and resulted in $1B+ in state and federal fines. Louis Freeh, a Federal judge and ex-FBI director, was placed on the BOD to oversight the company for a 2 year period in order to avoid federal prosecution Bristol. 

In the interim a major restructuring has been implemented which involves focusing on biologic products along with cost-cutting through a 3-year 20+% headcount reduction involving primarily layoffs of employees, and the outsourcing and off-shoring of operations. A significant move will be made to replace US R&D with inexpensive operations in India and China.

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