(STRATEGIES IMPLEMENTED)

RAIHANA BT RAMLEE 2010586303 BM2205C

BACKGROUND
Bristol-Myers Squibb is a global BioPharma company firmly focused on its mission to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. Around the world, our medicines help millions of people in their fight against such diseases as cancer, cardiovascular disease, diabetes, hepatitis B, HIV/AIDS, rheumatoid arthritis and psychiatric disorders. Headquartered in New York City, the company was formed in 1989, following the merger of its predecessors Bristol-Myers and the Squibb Corporation. Squibb was founded in 1858 by Edward Robinson Squibb in Brooklyn, New York, while Bristol-Myers was founded in 1887 by William McLaren Bristol and John Ripley Myers in Clinton, New York (both were graduates of Hamilton College).

STRATEGIES IMPLEMENTED
1. HORIZONTAL INTEGRATION 2. INTENSIVE STRATEGY 3. DIVERSIFICATION STRATEGY 4. MICHAEL PORTERS FIVE GENERIC STRATEGIES

HORIZONTAL INTEGRATION
MERGERS AND ACQUISITIONS
-the company introduced the String of Pearls approach to complement and enhance its internal capabilities with a suite of innovative alliances, partnerships and acquisitions with small and large companies. -In 1989, Bristol-Myers merged with Squibb, creating a global leader in the health care industry. The merger created Bristol-Myers Squibb company, which was then the worlds second-largest pharmaceutical enterprise.

-In 1967, Bristol-Myers acquired Mead Johnson & Company, a leader in science-based infant and childrens nutrition.

-In 1994, the company completed its acquisition of Union Pharmacologique Scientifique Appliquee (UPSA), a leading manufacturer of pharmaceutical and consumer medicines, based in France. - in 2009, Bristol-Myers Squibb acquired Medarex Inc., a biotech company and a partner since 2005.

JOINT VENTURE
-Bristol-Myers Squibb entered into an exclusive agreement with KAI Pharmaceuticals, Inc., a privately held biotechnology company, to globally develop and commercialize a therapy for cardiovascular diseases. -Bristol-Myers Squibb entered into a global collaboration with Exelixis, a biotechnology company based in San Francisco, California, to develop and commercialize two novel therapies

INTENSIVE STRATEGY
MARKET PENETRATION -Company headquarters were established in Manhattan and, having shifted squarely into the consumer products arena, Bristol-Myers began advertising its products, such as Vitalis hair tonic for men and Mum, an underarm deodorant, directly to the public. -The company sponsored the Bristol-Myers Squibb TOUR OF HOPE, an unprecedented week-long coast-to-coast cycling event MARKET DEVELOPMENT -In 1946, Squibb International was incorporated and the company expanded into South America and Europe while building manufacturing facilities in Mexico, Italy and Argentina. -In 1971, Squibb established worldwide headquarters in Princeton, New Jersey. It also expanded facilities for the Squibb Institute in Princeton, New Jersey. PRODUCT DEVELOPMENT -Squibb delved into cancer research, discovering and developing hydroxyurea for leukemia and advanced ovarian cancer. In the 1970s, when oncology was just a cottage industry, Bristol-Myers became the first company to drive research and treatments to the point where there was an impact on cancer treatment with medicines.

DIVERSIFICATION STRATEGY
RELATED DIVERSIFICATION -In 1938, The Squibb Institute for Medical Research was established in New Brunswick, New Jersey. The institute made great advancements for the pharmaceutical world, especially regarding antibiotics. -In 1997, the company opened a 433-acre research campus in Hopewell, New Jersey -The Bristol-Myers Squibb Childrens Hospital opened in March 2001 as part of the Robert Wood Johnson University Hospital in New Brunswick, New Jersey. UNRELATED DIVERSIFICATION -For a time, Bristol-Myers was in show biz. In 1970, the company formed Palomar Pictures, which produced The Taking of the Pelham One, Two, Three, starring Walter Matthau and Robert Shaw, and The Stepford Wives, starring Katharine Ross and Paula Prentiss. Palomar was terminated in 1974.

DEFENSIVE STRATEGY
DIVESTITURE AND LIQUIDATION -In 2008, Bristol-Myers Squibb sold its Medical Imaging business to the private equity firm Avista Capital Partners for $525 million, as part of its effort to focus on its core pharmaceutical pipeline. Bristol-Myers Squibb also sold its ConvaTec business unit to Nordic Capital Fund VII and Avista Capital Partners for $4.1 billion. ConvaTec was a world leader in the development and marketing of innovative wound therapeutics and ostomy care products. -Bristol-Myers Squibb announced in April 2008 its plan to sell approximately 10-20 percent of Mead Johnson Nutrition Company stock to the public through an IPO

PORTERS FIVE GENERIC STRATEGIES

FOCUS STRATEGY (TYPE 4 & 5) -BMS focus on its core pharmaceutical pipeline -A transformation to better focus BristolMyers Squibb on its biopharmaceutical business by selling its market share and assets. It also do the acquisition and collaboration with other companies to expand the business.

Conclusion & recommendation

BMS should collaborate with it competitors like Pfizer to share their knowledge and expertise.