Bristol Myers Squibb

Edward Robinson Squibb established pharmaceutical manufacturing operations in Brooklyn, New York, beginning the Squibb business.⁠[1]

William Bristol and John Myers invested $5,000 to acquire Clinton Pharmaceutical Company, establishing the other predecessor business.⁠[1]

The company’s China business began in 1982, with its Sino-American pharmaceutical joint venture starting production in October 1985. It subsequently established trading, investment and pharmaceutical entities, with its China headquarters in Shanghai and activities spanning oncology, hematology, immunology and cardiovascular disease.⁠[2]

Bristol-Myers and Squibb merged to form Bristol Myers Squibb. The predecessors’ founding dates are distinct from the formation of the combined company.⁠[1]

On September 1, the company announced completion of its approximately $2.4 billion acquisition of Medarex, which became a wholly owned subsidiary. The transaction used a $16-per-share cash tender offer followed by a merger. August 26 was the initial tender deadline, distinct from completion.⁠[3]

The FDA approved Yervoy (ipilimumab) on March 25 for unresectable or metastatic melanoma. The approval letter granted Bristol-Myers Squibb the relevant biologics license and specified manufacturing, packaging and postmarketing requirements. This date refers to the initial US approval.⁠[4]

Opdivo (nivolumab) received accelerated FDA approval on December 22 for unresectable or metastatic melanoma progressing after ipilimumab and, for BRAF V600 mutation-positive patients, a BRAF inhibitor. The drug blocks interaction between the PD-1 receptor and its ligands.⁠[5]

Celgene became a wholly owned subsidiary on November 20. Its shareholders received one Bristol-Myers Squibb share, $50 cash and a contingent value right tied to regulatory milestones for each share held. The combination expanded areas including hematology and was accompanied by regulatory arrangements to divest Otezla rights to Amgen.⁠[6]

The company completed its approximately $13.1 billion cash acquisition of MyoKardia, gaining the then-investigational mavacamten and other cardiovascular programs. MyoKardia became a wholly owned subsidiary. The acquisition expanded research capabilities in heart-muscle disease; subsequent drug approval was a separate event.⁠[7]

The FDA initially approved Breyanzi (lisocabtagene maraleucel) for specified adult relapsed or refractory large B-cell lymphomas after at least two systemic treatment lines. The letter defined eligible subtypes and excluded primary central nervous system lymphoma.⁠[8]

The FDA approved Camzyos (mavacamten) for adults with symptomatic NYHA class II–III obstructive hypertrophic cardiomyopathy to improve functional capacity and symptoms. Its trial snapshot described a randomized study of 251 participants.⁠[9]

Chris Boerner became CEO after serving as chief operating officer and CEO designate, having previously led global commercialization. He joined the company in 2015 and is now listed as board chair and CEO.⁠[10]

Mirati became a wholly owned subsidiary on January 23, adding commercial lung-cancer medicine Krazati (adagrasib) and early clinical programs involving PRMT5 and KRAS.⁠[11]

The company completed its approximately $4.1 billion acquisition of RayzeBio, adding an actinium-225 radiopharmaceutical platform and manufacturing capabilities. Its lead program, RYZ101, targets SSTR2 and was in clinical development at acquisition, introducing another modality into the oncology pipeline.⁠[12]

Karuna Therapeutics became a wholly owned subsidiary, adding KarXT (xanomeline–trospium) and an early neuroscience pipeline. At closing, its application for adult schizophrenia remained under FDA review, while additional psychiatric and neurological uses were being investigated.⁠[13]

The FDA approved Cobenfy (xanomeline and trospium chloride) for adult schizophrenia through a cholinergic-receptor mechanism. Evidence included two five-week randomized controlled studies. Its prescribing information also addressed risks and restrictions involving urinary retention, increased heart rate and hepatic or renal function.⁠[14]

The partners agreed to jointly develop and commercialize the PD-L1/VEGF-A bispecific antibody BNT327, sharing global profits and losses equally. BMS committed $1.5 billion upfront and $2 billion in further payments through 2028; up to $7.6 billion in additional milestones remained conditional on development, regulatory and commercial events.⁠[15]

The company completed its Orbital Therapeutics acquisition in December. Its annual report recorded approximately $1.7 billion in total consideration, or $1.5 billion net of acquired cash. The transaction secured full rights to OTX-201, a preclinical in vivo CAR-T program for autoimmune disease, distinct from established ex vivo cell-therapy approaches.⁠[16]

The company reported approximately $48.2 billion in 2025 revenue and $10.0 billion in R&D investment. Eliquis and Opdivo generated around $14.4 billion and $10.0 billion worldwide respectively. The portfolio also included Orencia, Yervoy, Reblozyl, Breyanzi and Camzyos across multiple therapeutic areas.⁠[17]

The company announced plans to deploy Claude for more than 30,000 employees across research, clinical development, manufacturing and commercial operations. Priorities included Claude Code, workflow agents and connections to institutional knowledge. These were deployment objectives; anticipated efficiency gains were not established outcomes.⁠[18]

BMS tested Claude for clinical-trial planning with AnthropicAnthropicAnthropic is an artificial intelligence research and product company founded in 2021 that develops the Claude models, assistant, and tools such as Claude Code, and operates as a public benefit corporation. Dario Amodei and Daniela Amodei are its co-founders, and its research covers model safety, interpretability, and steerability.Open the full entry.⁠[19]

Third-quarter revenue reached $13.069 billion, up 7% year over year. GAAP EPS was $1.05 and adjusted EPS $1.35. The company raised full-year revenue guidance to $49.75–50.25 billion. Adjusted measures differ from GAAP results, and the annual guidance remains a forecast.⁠[20]