Full Description

Bristol-Myers Squibb Company (BMS), incorporated in August 1933, is engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of pharmaceutical and nutritional products. The Company had two segments: Pharmaceuticals and Nutritionals. The Pharmaceuticals segment is made up of the global pharmaceutical and international consumer medicines business. The Nutritionals segment consists of Mead Johnson Nutritionals (Mead Johnson), primarily an infant formula and children’s nutritionals business. In January 2008, the Company completed the divestiture of Bristol-Myers Squibb Medical Imaging (Medical Imaging) to Avista Capital Partners L.P. In June 2008, BMS acquired Kosan Biosciences, Inc., a developer of oncology products. In August 2008, the Company completed the divestiture of its ConvaTec business to Cidron Healthcare Limited, an affiliate of Nordic Capital Fund VII and Avista. In December 2008, BMS completed the sale of its brand business in Egypt to GlaxoSmithKline. In July 2009, the Company's branded generics business, which comprises a portfolio of 13 branded pharmaceuticals was acquired by GlaxoSmithKline plc. As of September 1, 2009, the Company had acquired approximately 90.7% interest in Medarex, Inc.

Pharmaceuticals Segment

The Company’s pharmaceutical products fall in different therapeutic classes, such as cardiovascular; virology, including human immunodeficiency virus (HIV) infection; oncology; affective and other (psychiatric) disorders, and immunoscience. The Company’s products are sold worldwide, primarily to wholesalers, retail pharmacies, hospitals, government entities and the medical profession. The Company manufactures these products in the United States and Puerto Rico, and in 11 foreign countries. Pharmaceuticals segment accounted for 86% of the Company’s sales during the year ended December 31, 2008. The Company’s cardiovascular products include PLAVIX, PRAVACHOL, AVAPRO/AVALIDE, REYATAZ, ABILIFY, ERBITUX, SPRYCEL, BARACLUDE, TAXOL, ORENCIA, the SUSTIVA Franchise and IXEMPRA.

Nutritionals Segment

The Nutritionals segment, through Mead Johnson, manufactures, markets, distributes and sells infant formulas and other nutritional products, including the entire line of ENFAMIL products. ENFAMIL LIPIL contains the nutrients docosahexaenoic acid (DHA) and arachidonic acid (ARA), which are naturally found in breast milk. The Company’s Nutritionals products are generally sold by wholesalers and retailers, and are promoted primarily to healthcare professionals. Bristol-Myers Squibb manufactures these products in the United States and in five foreign countries. Nutritionals sales accounted for 14% of the Company’s sales in 2008.