Bristol-Myers Squibb
Bristol-Myers Squibb is a worldwide health and personal care company with major businesses in medicines, beauty care, nutritionals, and medical devices. BMS is a leader in innovative therapies for cardiovascular, metabolic and infectious diseases, central nervous system and dermatalogical disorders, and cncer. They are also leaders in consumer medicine, orthopaedic devices, ostomy care, wound management, nutritional supplements, infant formulas, and hair and skin care products.Some of the very well known products manufactured by Bristol-Myers Sqibb are Bufferin, Excederin, Enfamil, Clairol, and Sea Breeze. Another large part of BMS is their research and development of new pharmecutical products. Their annual budget for research and development is in excess of one billion dollars.
Bristol-Myers Squibb is the product of a merger between Bristol-Myers and Squibb Company in 1989. Bristol-Myers was originally Clinton Pharmecuticals, a failing drug manufacturing firm. In 1887 William McLaren Bristol and John Ripley Myers invested five thousand dollars in the company and on December 13, 1887 became president and vice president respectively. In 1898 the name was changed from Clinton Pharmecutical Company to Bristol,Myers Company. In 1899, after Myers's death, the comma was replaced by a hyphen. In 1856 Edward Robinson Squibb founded a pharmecutical company in Brooklyn, New York. In 1895 the company became E.R. Squibb & Sons when Squibb passed most of the responsibility to his sons. The company was then sold to Lowell M. Palmer and Theodore Weiker in 1905. Then in 1989 came the merger of Bristol-Myers and Sqibb creating, what was then, the second largest pharmecutical enterprise in the world.
Bristol-Myers Squibb currently employs over 57,000 people in more than 60 countries around the world. A highly diversified corporation, BMS has career opportunities in a variety of business and technical fields. For a descriptive list of current openings, as well as contact names and addresses, consult Bristol-Myers Squibb's employment page at www.bms.com/joinus. Recruiting also takes place on over 50 college campuses in the U.S. and at various job fairs and conferences.
The CEO of Bristol-Myers Squibb is Charles A. Heimbold. Heimbold earned his B.A. at Villanova University(1954), his I.L.B at The University of Pennsylvania(1960), and his L.L.M at New York University(1965).
The painkiller Vioxx was introduced in 1999 by Merck & Co. It has been used by over 20 million Americans since it was put on the market. Vioxx remained on the market for approximately five years without adequate warnings about its risks. In September of 2004, Merck took Vioxx off the market after a study revealed that it doubled the risk of heart attack or stroke for patients that used it for more than 18 months. Although Merck claimed that they had no idea of these possibly lethal side effects, some internal documents imply that they had been aware of the problem for years and had not made moves to change it. Over 300 lawsuits have been filed against Merck, and it is expected that thousands more will arise.
Blue Cross Blue Shield of Florida (BCBSFL) Operating Services is Florida’s largest insurer, serving more than 6 million residents in total. Three trends that redefine how Blue Cross Blue Shield of Florida brings value to its members are through consumer empowerment, E-business, and financial services modernization. BCBSFL holds approximately 30% of the HMO market share in Florida, which is twice the share of its nearest competitor. BCBSFL offers a BlueComplements program filled with discounts and services that allow members to stay healthy. Theses advantages include Healthy Alternatives, Vision One, TruVision, Hearx, GlobalFit, SafeTech, and Walgreens Mail Order Pharmacy.
The company is based in Massachusetts, US, where Emeritus Professor Hew was chief scientist before he left in 1999.
Bausch + Lomb, now a division of Valeant Pharmaceuticals International, Inc. began in 1853 in Rochester, New York, as a small optical shop that grew to become a multi-billion dollar corporation with approximately 12,000 employees worldwide. Its mission is to help you see better to live better, and to protect and enhance the gift of sight. Its products consist of three different marketed goods. The first of which is its vision care segment that includes products such as contact lenses, and solution to clean and care for them with. Its second line of products is pharmaceuticals, such as over the counter eye drops, as well as medicine to treat a range of eye conditions such as glaucoma and conjunctivitis. Bausch and Lomb’s last line of products include a full suite of products such as intraocular lenses and other surgery equipment needed for cataract and vitreoretinal surgeries (About Bausch + Lomb).
Background: Merck & Co. is an American pharmaceutical company and one of the largest pharmaceutical companies in the world. In 1971 the United States approved the use of an MMR vaccine made by Merck, containing the Jeryl Lynn strain of mumps vaccine. In 1978 Merck introduced the MMR II, using a different strain of the rubella vaccine. In 1997 the FDA required Merck to conduct effectiveness testing of MMRII. Initially it was over 95%; to continue the license; Merck had to convince the FDA that the effectiveness stayed at a similar rate over the years.
What most people fail to realize about BH is that it is involved in so many well-known companies but is hidden behind the scenes of many of these companies such as Wells Fargo (WFC.) At WFC the BH holding value is set at $21.38 billion and its stake in the company is valued at 8.8%. Along with this, BH also holds $13.49 billion of American Express, which translates to owning 14.3% of American Express. Another big company that BH is involved with is International Business Machines (IBM.) BH is responsible for having a 6.3% stake in the company, in addition to having a holding value of $12.51 billion. Besides owning percentages of different multibillion-dollar corporations, they also own a large amount of companies. As mentioned before they own companies such as GEICO insurance, which is an indirect, fully owned subsidiary of BH. The difference with indirect fully owned subsidiaries is that BH is the owner entirely of these companies. W...
Their acquisition of other pharmaceutical companies and advancements in their diagnostics placed Johnson & Johnson in the running of increasing their revenues and consumer sales greatly by 2016.
P&G was founded in 1837 by William Procter and James Gamble as a maker of soaps and candles. P&G was known in Corporate America as a company to be admired and imitated. In addition, it was envied for its profitability as well as strong brand name. P&G has a long standing reputation as having life long employees. This dedication and loyalty by P&G's employees created the notion that outside sources were unwelcome and all products and ideas must come from within, however, this is not the way of the future.
...he oldest companies producing skin care and pharmaceutical products, it has a high level of customer care in order to create high value from their products and high customer satisfaction.
Threat of new entrants is relatively high. Companies forming alliances are potential rivals. Even if earlier such company was not considered to be a threat, after merging with some research and development company or forming alliance with another pharmaceutical company it would become a rival to Eli Lilly. The threat is however weakened by significant research and development costs necessary to successfully enter the business. Eli Lilly’s focus on a relatively narrow market of sedatives and antidepressants weakens the threat of new entrants, but other products that form lesser part of company’s sales such as insulin and others are exposed to high threat of new entrants. The need of obtaining certificates and licenses also weakens the threat of new entrants. Discussed above leads to the conclusion that threat of new entrants is medium.
... middle of paper ... ... Six years later, in 2001, the majority of their income came from services to pharmaceutical companies (Martinez). This shows a definitive shift in the conduct of PBM’s.
Since its humble beginning as a small drugstore, Merck has placed a large amount of importance on improving the health and well-being of its customers. As drug patents expire and genetic forms of their top products become available, Merck’s strategy is to do the unexpected; instead of raising the price of their older products in favor of patent protected new drugs, Merck focuses on reducing their cost in order to better compete with their generic counterparts. Additionally, Merck’s plan for growth now encompasses a much more aggressive pursuit of new drugs in their pipeline through extensive research. Merck became the second largest health care company in the world after the merger with Schering-Plough in 2009 and has contributed great discoveries like the first cervical cancer vaccine and great resources like the Merck Manuals which are utilized as a source of information to doctors, scientists and consumers worldwide .
Lublin, J. S., & Carrns, A. (2003, April 11). Directors had lucrative links at HealthSouth. Wall Street Journal. p. B1. Retrieved from: http://search.proquest.com.proxy1.ncu.edu/docview/398944990?accountid=28180
The case under analysis, Eli Lilly & Company, will be covering the positives and negatives with regards to the business situation and strategy of Eli Lilly. One of the major pharmaceutical and health care companies in its industry, Lilly focused its efforts on the areas of "drug research, development, and marketed to the following areas: neuroscience, endocrinology, oncology, cardiovascular disease, and women's health." Having made a strong comeback in the 1990's due to its remarkably successful antidepressant Prozac, was now facing a potential loss in profits with its patent soon to expire. The problem was not only the soon to expire patent on Prozac, but the fact that Prozac accounted for as much as 30% of total revenue was the reality Eli Lilly now faced. (Pearce & Robinson, 34-1)
William Procter and James Gamble founded P&G in 1837. These two men were brother in laws, one a soap maker and the other a candle maker. (P&G, 2014) A suggestion from their father in law was that these two to men should team up and work together made P&G the billion dollar company they are today.