Essay About Bristol-Myers Squibb And Global Biopharmaceutical Company

Bristol-Myers Squibb Company Case Study
Lesson # 1 Case Study1  Parvathi Arun N0015351167BUS-590AProfessor JasonInternational American UniversitySep 3 2016IntroductionBristol-Myers Squibb, a global Biopharmaceutical company with over 30,000 employee’s .Bristol-Myers Squibb and other pharmaceutical companies had a huge loss which matters to expiring drugs. Due to this loss all these company had very limited space for their R&D. This is due to the limitations set in patents available for new pharmaceuticals. Bristol made a planning of their company in the long run and they did through the strategic planning. Strategic planning is nothing but to implement a plan or a process in a systemic manner. This is also defined to determine the long term goals and visions and how to fulfill that. In this case study we are going to discuss about the Bristol strategy, vision, and mission also how they affect internally, externally in their 10K report and how they implemented over years.Review/Analysis of the CaseAs discussed above, Bristol Myers Squibb is a huge pharmaceutical company which is significant manufacture of many core disease drugs like HIV, Cardiac disorders and neurology disorders. They lost a major part of their revenue due to the expiring patents of drugs. After that they formulated the planning commission in 2007 led by CEO James Cornelius. They formed much strategies but the most worked strategy is “String of pearls”. After the loss, they first acquired the company for HIV. Then they found they have many other choices to increase the profit. They input some amount of cost in their R&D unit and got huge fortunes to buy patents. But using the strategy they formed they acquired the Adnexus Therapeutics in 2007. It was a $430 billion contract and Bristol had a chance to improve its offerings on biologics. Then using the same strategy they had alliances with AstraZeneca and Pfizer .Now their alliance with them is they owned all medicines with AstraZeneca for Onglyza*, Farxiga*, Bydureon*, Byetta*, Symlin* and Myalept*. For the Pfizer they have an agreement for Eliquis pays BMS compensation based on a percentage of net sales.In the year 2008,Bristol advanced  in the same strategy and acquired Kosan Bioscience. It is a cancer therapeutics company which had Bristol’s R&D to make more explosions of anticancer agents. With Kosan and already acquired Exelixis they found new medicines to fight cancer.The total profit was $195 billion.In 2009 BMS acquired Medarex for $2.3 billion. This is with the treatment based on oncology. In 2011 BMS and Medarex found Yervoy, a biological product for cutaneous melanoma. It was first introduced to Europe and Japan, In 2015 FDA approved Yervoy in USA.In 2010 Bristol next acquisition is ZymoGenetics. With the master minds in both the companies they compound a medicine for Hepatitis C Virus. In February 2013, BMS with The Medicines Company and ZymoGenetics found topical hemostat to control non-arterial bleeding during surgical procedures called Recothrom. The profit with this company was around $ 132 billion.