Bristol Meyers Squibb As A Pharmaceutical Company Essay

1565 Words Oct 27th, 2016 7 Pages
Bristol Meyers Squibb is a pharmaceutical company, with a very rich tradition. This analysis will begin with a few historical highlights. Edward Squibb was a doctor in the Navy, who was unimpressed by the medicine that the Navy was using during the Mexican War, he was so dissatisfied that he threw all of the unfit medicine overboard. On 1858, when he returned, he went on to start his own company in Brooklyn, New York, with the goal of having pure medicine for the people. Squibb’s medicine was such a success it was used as the main source for the Union in the Civil War.
William Bristol and his good friend John Meyers paid $5,000 for Clinton Pharmaceutical Company, which was on its way to failing. Meanwhile Squibb retired and left his business to his two sons, who would late rename the company E.R. Squibb & Sons. Both, began to make moves within industry, creating new products and implementing effective marketing plans. In 1924 Bristol Meyers became a publicly traded company on the New York Stock Exchange. Bristol Meyers began to acquire other companies and eventually entered a merger with Squibb in 1989. This would lead to what we know now as Bristol Meyers Squibb, a leader in the pharmaceutical industry.
According to Yahoo Finance 73.5% of BMY’s holdings are within institutions and mutual funds. Some of its majority shareholders are Wellington Management Company, Vanguard Group, T.Rowe Associates, J.P Morgan, and BlackRock. Because all these are some well-recognized names…

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