Bristol-Myers Squibb best Pharma Org of 2011

As reported by Forbes, Bristol-Myers Squibb have been announced as the best Pharmaceutical company of 2011.

Why?

  • – Their share price increased 32 per cent to $35 over the course of 2011 – which is above where it was 5 years ago.
  • – Their drug, Plavix, is the second best selling drug in the world with annual sales of $7 billion.
  • In March 2011 the Food and Drug Administration (FDA) cleared Yervoy – the first drug of it’s kind to extend the survival of patients with metastatic melanoma by months. It is expected the drug will be a multi-billion dollar blockbuster.
  • In August 2011, the company revealed the result of their 18,000 patient clinical trial of the blood-thinner Eliquis which it is developing in collaboration with Pfizer. The drug is awaiting approval by the FDA
  • Since CEO Lamberto Andreotti took over last May, the company has successfully streamlined their business and is focusing on building a dstrong pharmaceutical presence. This was marked by their $2.4 billion purchase of biotechnology company Medarex in 2009. This gave them full rights to Yervoy.

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