Episode 989
In this episode, we profile Bristol Myers Squibb (BMS), an American multinational pharmaceutical powerhouse headquartered in Princeton, New Jersey, ranked 94th on the Fortune 500. We trace the company’s lineage back to the 1989 merger of two historic firms: Squibb, a supplier of medical goods to the Union Army during the Civil War, and Bristol-Myers, which once produced consumer goods like Ipana toothpaste and Sal Hepatica. Listeners will learn how the company transformed from a diversified producer into a specialized biopharmaceutical leader, focusing heavily on oncology, cardiovascular diseases, and immunology.
We break down the company's massive financial footprint, noting its $48.3 billion revenue in 2024 driven by top-selling drugs such as the anticoagulant Eliquis and the cancer immunotherapy Opdivo. The episode also explores BMS's aggressive "String of Pearls" growth strategy, highlighting major acquisitions like the $74 billion purchase of Celgene in 2019 and the recent $14 billion acquisition of Karuna Therapeutics, which secured the newly approved schizophrenia treatment Cobenfy. Finally, we discuss the legal hurdles the company has faced, including settlements regarding "channel stuffing" accounting scandals and antitrust litigation over the chemotherapy drug Taxol.
Published on 2 weeks, 3 days ago
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