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55-1512: The Bristol-Myers Squibb Company , doing business as Bristol Myers Squibb ( BMS ), is an American multinational pharmaceutical company . Headquartered in Princeton, New Jersey , BMS is one of the world's largest pharmaceutical companies and consistently ranks on the Fortune 500 list of the largest U.S. corporations. For fiscal 2022, it had a total revenue of $ 46.2 billion. Bristol Myers Squibb manufactures prescription pharmaceuticals and biologics in several therapeutic areas, including cancer , HIV/AIDS , cardiovascular disease , diabetes , hepatitis , rheumatoid arthritis , and psychiatric disorders . BMS's primary research and development (R&D) sites are located in Lawrence, New Jersey (formerly Squibb, near Princeton ), Summit, New Jersey , formerly HQ of Celgene , New Brunswick, New Jersey , Redwood City, California , and Seville in Spain, with other sites in Devens and Cambridge, Massachusetts , Braine-l'Alleud , Belgium, Tokyo , Japan, Hyderabad ; Bangalore , India and Wirral , United Kingdom. BMS previously had an R&D site in Wallingford, Connecticut (formerly Bristol-Myers). The Squibb corporation

110-551: A 122.5% premium to its last closing price), helping to boost its complement of cancer drugs, specifically repotrectinib . That same month, the company announced it would be investing $ 180m in French AI company Owkin , to design potentially more precise and efficient clinical trials. The collaboration will initially focus on cardiovascular diseases, and has the potential to extend into projects in other therapeutic areas. In August 2023, Bristol Myers Squibb partnered with Cellares for

165-420: A DBA must be registered with a local or state government, or both, depending on the jurisdiction. For example, California, Texas and Virginia require a DBA to be registered with each county (or independent city in the case of Virginia) where the owner does business. Maryland and Colorado have DBAs registered with a state agency. Virginia also requires corporations and LLCs to file a copy of their registration with

220-467: A DBA statement, though names including the first and last name of the owner may be accepted. This also reduces the possibility of two local businesses operating under the same name, although some jurisdictions do not provide exclusivity for a name, or may allow more than one party to register the same name. Note, though, that this is not a substitute for filing a trademark application. A DBA filing carries no legal weight in establishing trademark rights. In

275-516: A businessperson writes a trade name on a contract, invoice, or cheque, they must also add the legal name of the business. Numbered companies will very often operate as something other than their legal name, which is unrecognizable to the public. In Chile , a trade name is known as a nombre de fantasía ('fantasy' or 'fiction' name), and the legal name of business is called a razón social (social name). In Ireland , businesses are legally required to register business names where these differ from

330-586: A deferred prosecution agreement, the company was placed under the oversight of a monitor appointed by the U.S. attorney in New Jersey. In addition, the former head of the Pharma group, Richard Lane, and the ex-CFO, Fred Schiff, were indicted for federal securities violations. In July 2006, an investigation of the company was made public, and the FBI raided the company's corporate offices. The investigation centered on

385-731: A major supplier of medical goods to the Union Army during the American Civil War , providing portable medical kits containing morphine , surgical anesthetics, and quinine for the treatment of malaria (which was endemic in most of the Eastern United States at that time). In 1944, Squibb opened the world's largest penicillin plant in New Brunswick, New Jersey . In 1887, Hamilton College graduates William McLaren Bristol and John Ripley Myers purchased

440-423: A multiyear program of on-going layoffs. This was part of a business strategy launched in 2007 to transform the company from a large, diversified pharmaceutical company to a specialty biopharma company, which also included the closure of half of their manufacturing facilities. As another cost-cutting measure, Bristol-Myers Squibb also reduced health-care subsidies for retirees and planned to freeze their pension plan at

495-635: A producer of acidophilus milk in East Syracuse, New York , and converted the plant to produce penicillin for the World War II Allied forces . After the war, the company renamed the plant Bristol Laboratories in 1945 and entered the civilian antibiotics market, where it faced competition from Squibb. Penicillin production at the East Syracuse plant ended in 2005, when it became less expensive to produce overseas. As of 2010,

550-646: A refresher to the company's pipeline, helping to overcome from declining sales of Opdivo relative to competitor Keytruda . Under the terms of the deal, Celgene shareholders would receive one BMS share as well as $ 50 in cash for each Celgene share held, valuing Celgene at $ 102.43 a share; representing a 54% premium to the previous days closing price. Investor opposition to this acquisition, leading into an 12 April shareholder vote, appeared when BMS's second-largest investor, Wellington Management , voiced its opposition, followed by investor Starboard Value . In April 2019 BMS announced that 75% of its shareholders voted to approve

605-458: A registered legal name and a fictitious business name, or trade name, is important because fictitious business names do not always identify the entity that is legally responsible . Legal agreements (such as contracts ) are normally made using the registered legal name of the business. If a corporation fails to consistently adhere to such important legal formalities like using its registered legal name in contracts, it may be subject to piercing of

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660-542: A stake in the company, signaling a potential future takeover from the likes of Gilead Sciences . In April 2018, the company reported net income of $ 1.5 billion, or 91 cents per share, for the first quarter of the year, thanks to the increased sales of their cancer drug Opdivo. In August 2009, during a major restructuring activity, BMS acquired the biotechnology firm Medarex as part of the company's "String of Pearls" strategy of alliances, partnerships, and acquisitions. In November 2009, Bristol Myers Squibb announced that it

715-454: Is also sometimes used. A company typically uses a trade name to conduct business using a simpler name rather than using their formal and often lengthier name. Trade names are also used when a preferred name cannot be registered, often because it may already be registered or is too similar to a name that is already registered. Using one or more fictitious business names does not create additional separate legal entities. The distinction between

770-493: Is called a razón social . Drano Drano (styled as Drāno ) is an American brand of chemical drain cleaner that is manufactured by S. C. Johnson & Son . According to the National Institutes of Health 's Household Products Database, the crystal form is composed of: After Drano crystals are added to water, the reaction works as follows: Crystal Drano was invented in 1923 by Harry Drackett. From

825-490: Is the first novel type of treatment for the devitalizing, chronic mental disorder in the last 70 years. The following is an illustration of the company's major mergers and acquisitions and historical predecessors: For the fiscal year 2018,Bristol Myers Squibb reported earnings of US$ 1.007 billion, with an annual revenue of US$ 20.776 billion, an increase of 6.9% over the previous fiscal cycle. Bristol-Myers Squibb's shares traded at over $ 55 per share, and its market capitalization

880-604: The FDA accepted Karuna Therapeutics' NDA for KarXT, for the treatment of schizophrenia in adults. The acquisition of Karuna Therapeutics was completed in March 2024. The company entered into an agreement to purchase RayzeBio, for approximately $ 4.1 billion, in December 2023. On 26 September 2024, The Food and Drug Administration has given approval to one of Bristol Myers Squibb’s most anticipated schizophrenia drugs named Cobenfy which

935-466: The United Kingdom , there is no filing requirement for a "business name", defined as "any name under which someone carries on business" that, for a company or limited liability partnership, "is not its registered name", but there are requirements for disclosure of the owner's true name and some restrictions on the use of certain names. A minority of U.S. states, including Washington , still use

990-581: The cardiovascular disease drug developer Cardioxyl for up to $ 2.075 billion. The deal strengthens the BMS' critical pipelines with the phase II candidate for acute decompensated heart failure , CXL-1427 . In March 2016, the company announced it would acquire Padlock Therapeutics for up to $ 600 million. In early July, the company announced it would acquire Cormorant Pharmaceuticals for $ 520 million, boosting BMS' oncology offering through Cormorants monoclonal antibody targeted against interleukin-8 . In August 2017

1045-520: The 1960s into the 1980s, Drackett advertised Once in every week, Drano in every drain . Bristol-Myers bought the Drackett Company in 1965 and sold it to S. C. Johnson in 1992. Drano has been developed into several forms; as of 2016 , the original Crystal Drano is marketed as Drano Kitchen Crystals Clog Remover . Drano Aerosol Plunger was developed in the late 1960s, intended as a safer product that would be kinder environmentally. It

1100-806: The Clinton Pharmaceutical company of Clinton , New York. In May 1898, they decided to rename it Bristol, Myers and Company . Following Myers' death in 1899, Bristol changed the name to the Bristol-Myers Corporation . During the 1890s, the company introduced its first nationally recognized product Sal Hepatica , a laxative mineral salt, followed by Ipana toothpaste in 1901. Other divisions were Clairol (hair colors and haircare) and Drackett (household products such as Windex and Drano ). In 1943, Bristol-Myers acquired Cheplin Biological Laboratories,

1155-418: The U.S., trademark rights are acquired by use in commerce, but there can be substantial benefits to filing a trademark application. Sole proprietors are the most common users of DBAs. Sole proprietors are individual business owners who run their businesses themselves. Since most people in these circumstances use a business name other than their own name, it is often necessary for them to get DBAs. Generally,

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1210-587: The basic Liquid Drano formula. Drano Foamer first started out a powder similar to Crystal Drano in which water had to be added. This was the first-ever foaming pipe snake product. This caused Liquid-Plumr to launch Liquid-Plumr: Foaming Pipe Snake , which is a 2-in-1 liquid. Many years later, the makers of Drano decided to reimagine Drano Foamer as a 2 in 1 liquid known as the Dual Force Foamer. The Drano Snake Plus Drain Cleaning Kit combines

1265-516: The business announced it would acquire Forbius and its TGF-beta 1 & TGF-beta 3 inhibitors. In October, BMS announced it would acquire cardiology company MyoKardia for $ 13.1 billion ($ 225 per share) gaining control of mavacamten, a cardiovascular drug for obstructive hypertrophic cardiomyopathy (HCM), and the development of two key treatments: danicamtiv (MYK-491) and MYK-224 . In June 2022, BMS announced it would acquire Turning Point Therapeutics Inc for $ 4.1 billion in cash ($ 76 per share,

1320-411: The can, plus another hand or two to hold a rag over the drain vent to contain the pressure. The pressure sometimes knocked apart poor plumbing without blasting free the clog. Consumers who ignored instructions and attempted to use chemical drain openers first could be chemically burned from blow-back. Liquid Drano was introduced in response to Clorox 's purchase of Liquid-Plumr in 1969. Originally, it

1375-481: The company acquired IFM Therapeutics for $ 300 million upfront, with contingency payments of $ 1.01 billion due on certain milestones – allowing BMS to better compete against Merck & Co 's cancer rival treatment, Keytruda . In early January 2019, the company announced it would acquire Celgene (NASDAQ:CELG) for $ 74 billion ($ 95 billion including debt), in a deal that would become the largest pharmaceutical-company acquisition ever. The Celgene acquisition aimed to be

1430-485: The company for matters covered by the DPA. Under CEO Jim Cornelius, who was CEO following Dolan until May 2010, all executives involved in the "channel-stuffing" and generic competition scandals have since left the company. In 2009, the company began a major restructuring focusing on the pharmaceutical business and biologic products, along with productivity initiatives and cost-cutting and streamlining business operations through

1485-574: The company obtained an exclusive opportunity to both licence and commercialise PROSTVAC , Bavarian Nordic 's phase III prostate-specific antigen targeting cancer immunotherapy. Bavarian Nordic would receive an upfront payment of $ 60 million and incremental payments up to $ 230 million, if the overall survival of test patients exceeds that seen in Phase II tests. Bavarian could also receive milestone payments of between $ 110 million and $ 495 million, dependent on regulatory authorization, and these payments have

1540-484: The corporate veil . In English , trade names are generally treated as proper nouns . In Argentina , a trade name is known as a nombre de fantasía ('fantasy' or 'fiction' name), and the legal name of business is called a razón social (social name). In Brazil , a trade name is known as a nome fantasia ('fantasy' or 'fiction' name), and the legal name of business is called razão social (social name). In some Canadian jurisdictions , such as Ontario , when

1595-534: The county or city to be registered with the State Corporation Commission. DBA statements are often used in conjunction with a franchise . The franchisee will have a legal name under which it may sue and be sued, but will conduct business under the franchiser's brand name (which the public would recognize). A typical real-world example can be found in a well-known pricing mistake case, Donovan v. RRL Corp. , 26 Cal. 4th 261 (2001), where

1650-572: The distribution of Plavix and charges of collusion . On 12 September 2006, the monitor, former Federal Judge Frederick B. Lacey , urged the company to remove then-CEO Peter Dolan over the Plavix dispute. Later that day, BMS announced that Dolan would indeed step down. The deferred prosecution agreement expired in June 2007 and the Department of Justice did not take any further legal action against

1705-532: The end of 2009. BMS is a Fortune 500 Company (#114 in 2010 list). Newsweek's 2009 Green Ranking recognized Bristol-Myers Squibb as eighth among 500 of the largest United States corporations. Also, BMS was included in the 2009 Dow Jones Sustainability North America Index of leading sustainability-driven companies. Lamberto Andreotti was named CEO in 2010; he had previously served as "president and COO responsible for all pharmaceutical operations worldwide." In 2010, Lou Schmukler joined Bristol-Myers Squibb as

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1760-579: The facility was used for the manufacturing process development and production of other biologic medicines for clinical trials and commercial use. In 1989, Bristol-Myers and Squibb merged and became Bristol-Myers Squibb. In 1999, then-U.S. President Bill Clinton awarded Bristol-Myers Squibb the National Medal of Technology , the nation's highest recognition for technological achievement, "for extending, and enhancing human life through innovative pharmaceutical research and development and for redefining

1815-572: The fundamentals of pharmacy are found in many medical papers of the late 1800s. The American Journal of Pharmacy published more than one hundred papers of Squibb's research surrounding the industry. The sons of Edward Squibb sold the company to Lowell M. Palmer and Theodore Weicker in 1905, who incorporated the company. Around this time, the Squibb logo was developed, which represented the company's products of "uniformity, purity, efficacy, and reliability based on research." Squibb Corporation served as

1870-402: The law is to protect the public from fraud, by compelling the business owner to first file or register his fictitious business name with the county clerk, and then making a further public record of it by publishing it in a newspaper. Several other states, such as Illinois , require print notices as well. In Uruguay , a trade name is known as a nombre fantasía , and the legal name of business

1925-461: The named defendant, RRL Corporation, was a Lexus car dealership doing business as " Lexus of Westminster ", but remaining a separate legal entity from Lexus, a division of Toyota Motor Sales, USA, Inc. . In California , filing a DBA statement also requires that a notice of the fictitious name be published in local newspapers for some set period of time to inform the public of the owner's intent to operate under an assumed name . The intention of

1980-529: The pending merger with Celgene. Transaction to close in the third quarter of 2019, subject to regulatory approvals. Newly issued BMS shares and CVRs will commence trading on the New York Stock Exchange, with the CVRs trading under the symbol 'BMYRT'. The strategic divestment of the company's consumer health business, UPSA, to Taisho completed in 2019. UPSA focused product delivery on France and

2035-426: The potential to total up to $ 975 million. In May 2015, Dr. Giovanni Caforio became CEO of the company; Caforio was formerly the company's COO and succeeded Andreotti upon his retirement. Andreotti subsequently succeeded James Cornelius as executive chairman upon his retirement. In late February 2017, The Wall Street Journal and Fortune , among others, reported that activist investor Carl Icahn had taken

2090-420: The president of global product development and design. Schmukler led the team that completed the company's strategic transformation to a specialty biopharmaceutical company that had begun in 2007. As of 2011, the company had a dozen manufacturing facilities and six product development sites. Citing major developments and a market capitalization of US$ 87 billion and stock appreciation of 61.4%, Bristol-Myers Squibb

2145-502: The previous 20 trading days ended on 6 January. On 29 June, BMS extended its portfolio of diabetes treatments when it agreed to buy Amylin Pharmaceuticals for around US$ 5.3 billion in cash and pay US$ 1.7 billion to Eli Lilly to cover Amylin's debt and its outstanding collaboration-related obligations. AstraZeneca , which already collaborated on several diabetes treatments with BMS, agreed to pay US$ 3.4 billion in cash for

2200-584: The rest of Europe. As early as 2005, the company had divested individual consumer products, and its US- and Canada-focused consumer products business. In August, the Amgen announced it would acquire the Otezla drug programme from Celgene for $ 13.4 billion, as part of Celgene and BMS's merger deal. In February 2020, BMS and partner Biomotiv launched a new company called Anteros Pharmaceuticals, which focuses on creating inflammation and fibrosis medicines. In August,

2255-418: The right to continue development of Amylin's products. Two years later, the company divested Amylin to AstraZeneca. In April 2014, BMS announced its acquisition of iPierian for up to $ 725 million. In February 2015, the company acquired Flexus Biosciences for $ 1.25 billion. As part of this deal, BMS will gain full rights to Flexus' lead small molecule IDO1-inhibitor , F001287. In November, the company acquired

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2310-424: The robotic production of CAR-T treatments of which it has two approved. In September 2023, BMS announced it would pay Zenas BioPharma $ 50m upfront for a strategic license and collaboration to develop and commercialise obexelimab , a novel, bi-functional antibody for autoimmune diseases. In October 2023, BMS agreed to acquire Mirati Therapeutics , an American biotechnology company that develops targeted therapies for

2365-406: The science of clinical study through groundbreaking and hugely complex clinical trials that are recognized models in the industry." In 2002, the company was involved in a lawsuit of illegally maintaining a monopoly on Taxol , its cancer treatment, and it was again sued for the antitrust lawsuit five years later, which cost the company $ 125 million for settlement. Also in 2002, Bristol-Myers Squibb

2420-459: The surname(s) of the sole trader or partners, or the legal name of a company. The Companies Registration Office publishes a searchable register of such business names. In Japan , the word yagō ( 屋号 ) is used. In Colonial Nigeria , certain tribes had members that used a variety of trading names to conduct business with the Europeans. Two examples were King Perekule VII of Bonny , who

2475-469: The term trade name to refer to "doing business as" (DBA) names. In most U.S. states now, however, DBAs are officially referred to using other terms. Almost half of the states, including New York and Oregon , use the terms assumed business name or assumed name ; nearly as many, including Pennsylvania , use the term fictitious name . For consumer protection purposes, many U.S. jurisdictions require businesses operating with fictitious names to file

2530-518: The treatment of cancer, in an all-cash deal worth $ 4.8 billion, and an additional $ 1 billion in milestone payment. The acquisition was completed in January 2024. In December 2023, BMS signed an agreement for the acquisition of Karuna Therapeutics for an equity value totaling $ 14 billion. The acquisition included Karuna's lead asset, KarXT , an investigational muscarinic antipsychotic combination of Xanomeline and Trospium . In November 2023,

2585-632: The twelve months ending 31 December 2020 at 278 Kt (-6 /-2.1% y-o-y). The company aims to become net neutral carbon by 2040. Trade name In a number of countries, the phrase " trading as " (abbreviated to t/a ) is used to designate a trade name. In the United States , the phrase " doing business as " (abbreviated to DBA , dba , d.b.a. , or d/b/a ) is used, among others, such as assumed business name or fictitious business name . In Canada , " operating as " (abbreviated to o/a ) and " trading as " are used, although " doing business as "

2640-784: Was "splitting off" Mead Johnson Nutrition by offering BMY shareholders the opportunity to exchange their stock for shares in Mead Johnson. According to Bristol Myers Squibb, this move was expected to further sharpen the company's focus on biopharmaceuticals. In October 2010, the company acquired ZymoGenetics , securing an existing product, as well as pipeline assets in hepatitis C, cancer, and other therapeutic areas. Bristol Myers Squibb agreed to pay around $ 2.5 billion in cash to buy Inhibitex Inc. in attempt to compete with Gilead / Pharmasset to produce hepatitis C drugs. The settlement will be finished in 2 months for its Inhibitex's shareholders acceptance of 126% premium price of its price over

2695-427: Was basically just a can of CFC propellant, the best-known brand of which was Freon. After Earth Day in 1970, there came increasing pressure to eliminate CFC propellants. Drackett used cheaper propellants, a blend of propane and butane , in all its other products. However, the propellant mix created a fire hazard. The product was problematic. The forceful propellant required most consumers use both hands to control

2750-613: Was founded in 1858 by Edward Robinson Squibb in Brooklyn , New York. Squibb was known as an advocate of quality control and high purity standards early within the pharmaceutical industry. He went on to self-publish an alternative to the U.S. Pharmacopeia titled Squibb's Ephemeris of Materia Medica, after failing to convince the American Medical Association to incorporate higher purity standards. Materia Medica , Squibb products, and Edward Squibb's opinion on

2805-1015: Was involved in an accounting scandal that resulted in a significant restatement of revenues from 1999 to 2001. The restatement was the result of an improper booking of sales related to " channel stuffing " as the practice of offering excess inventory to customers to create higher sales numbers. The company has since settled with the United States Department of Justice and Securities and Exchange Commission , agreeing to pay $ 150 million, while neither admitting nor denying guilt. On 24 October 2002, Bristol-Myers Squibb Co. restated earnings downward for parts of 2000 and 2001, while revising 2002 earnings upward because of its massive inventory backlog imbroglio that spurred two government investigations. On 15 March 2004, Bristol-Myers Squibb Co. adjusted upward its fourth-quarter and full-year 2003 results after reversing an earlier decision about how to deal with accounting errors made in prior years. As part of

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2860-553: Was known as Captain Pepple in trade matters, and King Jubo Jubogha of Opobo , who bore the pseudonym Captain Jaja . Both Pepple and Jaja would bequeath their trade names to their royal descendants as official surnames upon their deaths. In Singapore , there is no filing requirement for a "trading as" name, but there are requirements for disclosure of the underlying business or company's registered name and unique entity number. In

2915-480: Was ranked as the best drug company of 2013 by Forbes magazine . In December 2014, the company received FDA approval for the use of the PD-1 inhibitor nivolumab (Opdivo) in treating patients whose skin cancer cannot be removed or have not responded to previous drug therapies. In February 2015, the company initiated a research partnership with Rigel Pharmaceuticals which could generate more than $ 339 million. In March,

2970-459: Was simply a liquid lye (sodium hydroxide). In the late 1970s, the product was reformulated as a combination of liquid lye and sodium hypochlorite . Sodium hypochlorite is used in low (5%) concentration as laundry bleach and in higher concentrations as a swimming pool disinfectant. Liquid Drano is marketed in several forms, including Drano Liquid Clog Remover, Drano Max Build-Up Remover, and Drano Dual-Force Foamer Clog Remover. All are variations on

3025-458: Was valued at over US$ 81.6 billion in October 2018. In 2018, 85% of the company's revenues came from just five products. In 2018, Bristol-Myers Squibb spent 36% of its total revenue on R&D expenses. Bristol-Myers Squibb ranked 145th on the Fortune 500 list of the largest United States corporations by revenue in 2018. Bristol Myers Squibb reported Total CO2e emissions (Direct + Indirect) for

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