| "Bristol-Myers Squibb Company"(BMY)
|"Bristol-Myers Squibb Company" Graph source Edgar Online Pro on April 20th, 2006
The Following data is sourced from Yahoo Finance & the ANNUAL REPORT ON FORM 10-K For the Year Ended December 31, 2005 . The overview of the company was:
Bristol-Myers Squibb Company engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of pharmaceutical and other health care products in the United States and internationally. It operates in three segments: Pharmaceuticals, Nutritionals, and Other Healthcare. The Pharmaceuticals segment provides pharmaceutical products for cardiovascular; virology, including immunology; infectious diseases; oncology; affective disorders; and metabolics. This segment also offers various pain relief products in Europe. The Nutritionals segment manufactures, markets, distributes, and sells infant formulas and other nutritional products, including a line of ENFAMIL products. The Other Healthcare segment provides ostomy, and wound and skin care products; medical imaging products that primarily include cardiac perfusion imaging agents and ultrasound contrast agents; and other consumer medicines. Bristol-Myers has strategic alliances with Sanofi-Aventis; Otsuka Pharmaceutical Co., Ltd.; and ImClone Systems Incorporated. It primarily serves health care providers, such as doctors, nurse practitioners, physician assistants, pharmacists, technologists, hospitals, pharmacy benefit managers, managed care organizations, and government agencies. The company was founded in 1887. It was formerly known as Bristol-Myers Company and changed its name to Bristol-Myers Squibb Company in 1989. Bristol-Myers is headquartered in the New York City.
Bristol-Myers Squibb Website :
The Company’s internet website address is www.bms.com . The Company makes available free of charge on its website its annual, quarterly and current reports, including amendments to such reports, as soon as reasonably practicable after the Company electronically files such material with, or furnishes such material to, the United States Securities and Exchange Commission (SEC).
Information relating to corporate governance at Bristol-Myers Squibb, including the Company’s Standards of Business Conduct and Ethics, Code of Ethics for Senior Financial Officers, Code of Business Conduct and Ethics for Directors, (collectively, the “Codes”), Corporate Governance Guidelines, and information concerning the Company’s Executive Committee, Board of Directors, including Board Committees and Committee charters, and transactions in Bristol-Myers Squibb securities by Directors and executive officers, is available on the Company’s website at www.bms.com under the “Investors—Corporate Governance” caption and in print to any stockholder upon request. Any waivers to the Codes by directors or executive officers and any material amendment to the Code of Business Conduct and Ethics for Directors and Code of Ethics for Senior Financial Officers will be posted promptly on the Company’s website. Information relating to stockholder services, including the Company’s Dividend Reinvestment Plan and direct deposit of dividends, is available on the Company’s website at www.bms.com under the “Investors—Stockholder Services” caption.
The Company incorporates by reference certain information from parts of its proxy statement for the 2006 Annual Meeting of Stockholders. The SEC allows the Company to disclose important information by referring to it in that manner. Please refer to such information. The Company’s proxy statement for the 2006 Annual Meeting of Stockholders and 2005 Annual Report are available on the Company’s website ( www.bms.com ) under the “Investors—SEC Filings” caption.
Highlights of Risks Related to Our (BMY) Business
For further detail please review the 10 K Form in detail.
Any of the factors described below could significantly and negatively affect our business, prospects, financial condition, operating results, or our credit ratings, which could cause the trading price of our common stock to decline. Additional risks and uncertainties not presently known to the Company, or risks that the Company currently considers immaterial, may also impair the Company’s operations.
The Company cannot predict the outcome of the PLAVIX* litigation in the U.S., which is scheduled to go to trial in June 2006. Although the plaintiffs intend to vigorously pursue enforcement of their patent rights in PLAVIX*, it is not possible at this time reasonably to assess the outcome of this litigation, or, if the Company were not to prevail in the litigation, or, if Apotex Inc. and Apotex Corp. (Apotex), which now has final approval of its sNDA in the U.S. were to enter the market with a generic product at risk, the timing of potential generic competition for PLAVIX*. However, loss of market exclusivity for PLAVIX* and the subsequent development of generic competition and/or a decision by Apotex to launch generic clopidogrel at risk, would be material to the Company’s sales of PLAVIX* and results of operations and cash flows, and could be material to its financial condition and liquidity.
The Company has recorded deferred tax assets related to U.S. foreign tax credit and research tax credit carryforwards, which expire in varying amounts beginning in 2012. Realization of the foreign tax credit and research tax credit carryforwards is dependent on generating sufficient taxable income prior to their expiration. Although realization is not assured, management believes it is more likely than not that these deferred tax assets will be realized. The amount of foreign tax credit and research tax credit carryforwards considered realizable, however, could be reduced in the near term if the outcome of the PLAVIX* litigation in the U.S. is unfavorable, and/or if the timing of successful generic competition for PLAVIX* were to be accelerated. If such events occur, the Company may need to record significant additional valuation allowances against these deferred tax assets. For additional information on PLAVIX* litigation see “Item 8. Financial Statements—Note 20. Legal Proceedings and Contingencies.”
Competition from manufacturers of generic versions of our products is a major challenge as our products mature and patents expire on products. Generic companies are also increasingly seeking to challenge patents. Other competitive factors the Company faces include (i) new products developed by competitors that have lower prices or superior performance features or that are otherwise competitive with our current products; (ii) technological advances and patents attained by competitors; (iii) results of clinical studies related to our products or a competitor’s products; (iv) problems with licensors, suppliers and distributors; and (v) business combinations among our competitors or major customers.
The Company may experience difficulties and delays inherent in product development, manufacturing and sale, such as (i) products that may appear promising in development but fail to ever reach market or to be approved for additional indications for any number of reasons, including efficacy or safety concerns, the delay or denial of necessary regulatory approvals and the difficulty or excessive cost to manufacture; (ii) failure of one or more of the Company’s products to achieve or maintain commercial viability; (iii) seizure or recalls of pharmaceutical products or forced closings of manufacturing plants; (iv) the failure to obtain, the imposition of limitations on the use of, or loss of patent and other intellectual property rights; (v) failure of the Company or any of its vendors or suppliers to comply with Current Good Manufacturing Practices and other application regulations and quality assurance guidelines that could lead to temporary manufacturing shutdowns, product shortages and delays in product manufacturing; and (vi) other manufacturing or distribution problems including changes in manufacturing production sites and limits to manufacturing capacity due to regulatory requirements, changes in types of products produced, such as biologics, or physical limitations that could impact continuous supply.
The Company has continuing obligations under the Deferred Prosecution Agreement and United States Securities and Exchange Commission (SEC) Consent Order relating to wholesaler inventory and various accounting matters, pursuant to which the Company agreed to implement certain remedial measures, including all recommendations made by the Independent Monitor under with the Deferred Prosecution Agreement, undertake corporate reforms, and include additional disclosure in its periodic reports filed with the SEC and annual report to shareholders.
The Company may experience legal difficulties, including lawsuits, claims, proceedings and government investigations, any of which can preclude or delay commercialization of products or adversely affect operations, profitability, liquidity or financial condition, including (i) intellectual property disputes; (ii) sales and marketing practices in the U.S. and internationally; (iii) adverse decisions in litigation, including product liability and commercial cases; (iv) the Company’s determination to self-insure for product liabilities effective July 1, 2004; (v) recalls or withdrawals of pharmaceutical products or forced closings of manufacturing plants; (vi) the failure to fulfill obligations under supply contracts with the government and other customers which may result in liability; (vii) product pricing and promotion matters; (viii) claims asserting violations of securities, antitrust, federal and state pricing and other laws; (ix) environmental, health and safety matters; and (x) tax liabilities. There can be no assurance that there will not be an increase in scope of these matters or that any future lawsuits, claims, proceedings or investigations will not be material.
The Company could become subject to new government laws and regulations, such as (i) health care reform initiatives in the United States at the state and federal level and in other countries; (ii) changes in the FDA and foreign regulatory approval processes that may cause delays in approving, or preventing the approval of, new products; (iii) tax changes such as the phasing out of tax benefits heretofore available in the United States and certain foreign countries; (iv) new laws, regulations and judicial decisions affecting pricing or marketing within or across jurisdictions; and (v) changes in intellectual property law.
Pharmaceutical products are subject to increasing price pressures and other restrictions in the United States and worldwide, including (i) rules and practices of managed care groups and institutional and governmental purchasers, (ii) judicial decisions and governmental laws and regulations related to Medicare, Medicaid and healthcare reform, including the Medicare Prescription Drug, Improvement, and Modernization Act of 2003, and (iii) the potential impact of importation restrictions, legislative or otherwise, pharmaceutical reimbursement, Medicare Part D Formularies, and product pricing in general.
Reliance on Third Parties
The Company relies on vendors, partners and other third parties to meet their contractual, regulatory and other obligations in relation to their arrangements with the Company.
The Company is exposed to changes in interest rates and fluctuation of foreign currency exchange rates and other economic factors over which the Company has no control.
Execution of the Company’s Strategy
The Company may not be able to fully execute the strategic transformation of our business to attain a new period of sustainable revenue and earnings growth. The Company continues to invest in our growth drivers and pipeline as part of our focus on addressing areas of significant unmet medical needs. Failure to realize additional cost savings in 2007 and 2008 or to successfully transition the product portfolio, however, could materially and adversely affect the Company’s results of operations.
Changes in the Company’s structure, operations, revenues, costs, staffing or efficiency resulting from acquisitions, divestitures, mergers, alliances, restructurings or other strategic initiatives, could result in greater than expected costs and other difficulties, including the need for regulatory approvals, as appropriate.
Changes to advertising and promotional spending and other categories of spending may affect sales.
The Company is increasingly dependent on information technology systems and any significant breakdown, invasion, destruction or interruption of these systems could negatively impact operations.
Although the Company believes that it has been prudent in its plans and assumptions, no assurance can be given that any goal or plan set forth in forward-looking statements can be achieved and readers are cautioned not to place undue reliance on such statements, which speak only as of the date made. The Company undertakes no obligation to release publicly any revisions to forward-looking statements as a result of new information, future events or otherwise.
Recent articles on the medical industry:
For New Research Projects Contact The Chairman at Email: firstname.lastname@example.org
Disclaimer of Warranty and Limitation of Liability
products and services on this web site or letter are provided on an "AS IS," "WHERE IS" and "WHERE AVAILABLE" basis.
The KIN Consortium does not warrant the information or services provided herein or your use of this
web site generally, either expressly or impliedly, for any particular purpose and expressly disclaims any implied warranties,
including but not limited to, warranties of title, non-infringement, merchantability or fitness for a particular purpose.
The KIN Consortium will not be responsible for any loss or damage that could result from interception
by third parties of any information or services made available to you via this web site. Although the information provided
to you on this web site is obtained or compiled from sources we believe to be reliable, The KIN Consortium
cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available
to you for any particular purpose. Neither The KIN Consortium , nor any of its affiliates, directors,
officers or employees, nor any third party vendor, will be liable or have any responsibility of any kind for any loss or damage
that you incur in the event of any failure or interruption of this web site, or resulting from the act or omission of any
other party involved in making this web site, the data contained herein or the products or services offered on this web site
available to you, or from any other cause relating to your access to, inability to access, or use of the web site or these
materials, whether or not the circumstances giving rise to such cause may have been within the control of The KIN
Consortium or of any vendor providing software or services. In no event will The KIN Consortium
or any such parties be liable to you, whether in contract or tort, for any direct, special, indirect, consequential or incidental
damages or any other damages of any kind even if The KIN Consortium or any other such party has been
advised of the possibility thereof. This limitation on liability includes, but is not limited to, the transmission of any
viruses which may infect a user's equipment, failure of mechanical or electronic equipment or communication lines, telephone
or other interconnect problems (e.g., you cannot access your internet service provider), unauthorized access, theft, operator
errors, strikes or other labor problems. The KIN Consortium cannot and does not guarantee continuous,
uninterrupted or secure access to the web site.
All right, title and interest
in this web site and any content contained herein is the exclusive property of The KIN Consortium ,
except as otherwise stated. Unless otherwise specified, this web site is for your personal and non-commercial use only and
you may print, copy and download any information or portion of this web site for your personal use only. You may not modify,
copy, distribute, transmit, display, perform, reproduce, publish, license, frame, create derivative works from, transfer,
or otherwise use in any other way for commercial or public purposes in whole or in part any information, software, products
or services obtained from this web site, except for the purposes expressly provided herein, without The KIN Consortium's prior
written approval. If you copy or download any information or software from this web site, you agree that you will not remove
or obscure any copyright or other notices or legends contained in any such information.
The KIN Consortium and
other trademarks and service marks referenced herein are trademarks and service marks of The KIN Consortium .
The names of other companies and third-party products or services mentioned herein may be the trademarks or service marks
of their respective owners. You are prohibited from using any marks for any purpose including, but not limited to use as metatags
on other pages or sites on the World Wide Web without the written permission of The KIN Consortium
or such third party, which may own the marks.
Pursuant to Section 512(c)(2) of the Copyright Act, The KIN
Consortium designates the following agent to receive notifications of claimed infringement: Khalid I Natto,
The KIN Consortium , Email: email@example.com, Website: http://khalidnatto.tripod.com
Use of Links
This web site contains links
to third party web sites. These links are provided only as a convenience. The inclusion of any link is not and does not imply
an affiliation, sponsorship, endorsement, approval, investigation, verification or monitoring by The KIN Consortium
of any information contained in any third party web site. In no event shall The KIN Consortium be responsible
for the information contained on that site or your use of or inability to use such site. You should also be aware that the