Bristol Myers Squibb Pharmaceuticals - Essay Example

Bristol-Myers Squibb Table of Contents Company Background/History 3 2. Company Location 3 3. Company Gross Annual Earnings 4 4. Top Five Drugs Produced by the Company 4 5. Generic Counterparts of the Top Five Drugs 5 6. Costs of the Top Five Drugs 5 7. Patient Assistance Programs Available Through Bristol-Myers Squibb. Included Drugs. Qualification Criteria for Program Inclusion. Assistance Given to Insured and Uninsured Patients 6 8. Availability of Patient Education Programs for the Five Drugs. Availability of Patient, Provider Online Resources 7 References 8 1. Company Background/History Bristol-Myers Squibb is a giant in the pharmaceutical industry, and is properly classified as a biopharmaceutical firm. Its base of manufacturing operations is in the United States, even as it also has manufacturing facilities in seven other countries, including Puerto Rico. It is the maker of the anti-organ rejection medicine called Orencia, marketed in the US and in Europe for replacement kidney transplant recipients, among others. Its range of activities are summarised in the following terms: “discovery, development, licensing, manufacturing, marketing, distribution and sale of biopharmaceutical products on a global basis...sold worldwide to wholesalers, retail pharmacies, hospitals, government entities and the medical profession” (Google Finance, 2012). Its latest acquisitions are Inhibitex Inc. in early 2012, and Amira Pharmaceuticals in 2011 (Google Finance, 2012). The company boasts thirteen new drug introductions over the past decade, and its drugs portfolio treats a wide range of critical diseases, from cancer to heart disease, aids, arthritis, psychiatric illnesses, and hepatitis (Bristol-Myers Squibb, 2012). 2. Company Location The company has its headquarters in New York, and manufacturing facilities spread out in eight countries. The company likewise has facilities spread out in different parts of the globe, including China, Belgium, Brazil, Ecuador, England, France, Ireland, Italy, Japan, Mexico, and several locations in the United States (Google Finance, 2012; Bristol-Myers Squibb, 2012 (c)) . The New York contact details are below (Google Finance, 2012): 345 Park Avenue NEW YORK, NY 10154 United States +1-212-5464000 (Phone) +1-212-5464020 (Fax) (Google Finance, 2012). 3. Company Gross Annual Earnings Revenues for the fiscal year ending in December 2011 were US 21.244 billion dollars, reflecting steady revenue growth extending from 2007, even as profits have leveled off from 2010, and lower compared to a four-year profit high recorded in 2009. Financial statements are given in the cited link. The plot below details revenues, net income and profit margins from 2007 to 2011 (Google Finance, 2012 (b)): Chart Source: Google Finance, 2012 (b) 4. Top Five Drugs Produced by the Company The company details the following medications as its showcase portfolio of medicines, in the official company website (Bristol-Myers Squibb, 2012 (b): ABILIFY® (aripiprazole); ATRIPLA® (efavirenz / emtricitabine / tenofovir disoproxil fumarate); AVAPRO® (irbesartan); BARACLUDE® (entecavir); ERBITUX® (cetuximab); IXEMPRA® (ixabepilone); KOMBIGLYZE™ (saxagliptin and metformin); NULOJIX® (belatacept); ORENCIA® (abatacept); ONGLYZA® (saxagliptin); PLAVIX® (clopidogrel bisulfate); REYATAZ® (atazanavir sulfate); SPRYCEL® (dasatinib); SUSTIVA® (efavirenz); YERVOY™ (ipilimumab) (Bristol-Myers Squibb, 2012 (b). The company has five blockbuster medications belonging to the top 200 medications sold in the US, by year 2010 sales figures. These are Plavix, Abilify, Reyataz, Avapro, and Avilide. Plavix, with sales of US 4.67 billion dollars in 2010, is an anti-blood clot medication, used for heart disease prevention and management. Abilify, with US 3.514 billion dollars in sales in 2010, is classified as an antipsychotic drug. Reyataz, with sales of US 412 million dollars in 2010, is a protease inhibitor. Avapro, with sales of US 369 million dollars in 2010, is an angiostin II inhibitor. Avalide, with sales of US 324 million dollars in 2010, is a combination of anti-hypertensive medications (Drugs.com, 2012; Drugs.com, 2012 (b); Wikiinvest, 2012). 5. Generic Counterparts of the Top Five Drugs First, patents for Plavix, Avapro, and Avalide all expire in 2012, so these medicines are ripe for the creation of generic counterparts. Abilifys patent protection holds until 2014, when that patent expires. The patent for Reyataz, on the other hand, expires in 2017. Until expiration generic versions of the drugs above will not be available, as a rule (Wikiinvest, 2012). , 6. Costs of the Top Five Drugs 10 mg Abilify costs US 1,710.95 for 90 tablets, discounted by 9 percent on the website Drugstore.com. 30 tablets, discounted at 7 percent, costs US 584 dollars (Drugstore,com, 2012). 75 mg Plavix costs US 590.97 dollars for 90 tablets, discounted by 13 percent at Drugstore.com. 30 tablets cost US 204.99 dollars, discounted by 10 percent (Drugstore.com, 2012 (b)). 150 mg capsules of Reyataz cost US 1,616.92 dollars for 90 tablets, discounted by 8 percent at Drugstore.com. 30 capsules cost US 557.97 dollars, discounted by 5 percent (Drugstore.com, 2012 (c)). 75 mg tablets of Avapro cost US 253.93 dollars for 90 tablets, discounted by 16 percent. 30 tablets cost US 95.91 dollars, discounted by 5 percent (Drugstore.com, 2012 (d)). 150-12.5 mg tablets of Avalide cost US 336.99 dollars for 90 tablets, discounted by 13 percent at Drugstore.com. 30 tablets cost US 117.99 dollars for 30 tablets, discounted by 8 percent (Drugstore.com, 2012 (e)). The prices above are indicative, and may change depending on source location and general availability in an area. Websites such as Drugstore.com for instance does order fulfillment online, similar to Amazons order fulfillment process, presumably to any point in the US (Drugstore.com, 2012). 7. Patient Assistance Programs Available Through Bristol-Myers Squibb. Included Drugs. Qualification Criteria for Program Inclusion. Assistance Given to Insured and Uninsured Patients The official Bristol-Myers Squibb website has a section devoted to patient assistance, and explicitly states that the company has existing patient assistance programs in place for practically all of its popular medications, including its top five drugs. The qualification criteria to be included in the programs are not stated in the website, and the process first involves writing the company and providing details about patient cases. The presumption is that inclusion is done on a case to case basis, depending on the merits of the case. While case to case details and inclusion criteria are not published on the site, the company provides statistics relating to the magnitude of the assistance that they give. They also have sections devoted to patients with and without insurance, and help with out of pocket expenses/costs relating to medications” (Bristol-Myers Squibb, 2012 (d)) In 2011 Bristol-Myers Squibb helped over 250,000 patients with free Bristol-Myers Squibb prescription medicines valued at over $450 million through donations to the Bristol-Myers Squibb Patient Assistance Foundation as well as other programs (Bristol -Myers Squibb, 2012 (d)). A related website, for the Bristol-Myers Squibb Patient Assistance Foundation, details programs in place to help patients unable to pay for their medications because of financial incapacity and lack of insurance coverage, among other financially-related problems. As in the parent website, enrollment is via the filling up of appropriate forms, and is on a per medication name basis (Bristol-Myers Squibb Patient Assistance Foundation, 2008). 8. Availability of Patient Education Programs for the Five Drugs. Availability of Patient, Provider Online Resources As one of the biggest and most prominent biopharmaceutical firms in the US, literature on the company and the companys medications are widely available and widely covered by trade press and by popular media. There is a wealth of information both for patients and providers on a large number of reputable sites on the Internet, and the popularity of the medications listed above translate to wide public discussion and a wide range of available literature on them and on the company (Drugs.com, 2012; Bristol-Myers Squibb, 2012; Google Finance; Drugstore.com; Wikiinvest, 2012). References Bristol-Myers Squibb (2012). Our Company, BMS.com. Retrieved 7 April 2012 from http://www.bms.com/ourcompany/Pages/home.aspx Bristol-Myers Squibb (2012 (b)). Key Facts: Selected Key Products, BMS.com. Retrieved 7 April 2012 from http://www.bms.com/ourcompany/Pages/keyfacts.aspx Bristol-Myers Squibb (2012 (c)). Worldwide Facilities, BMS.com. Retrieved 7 April 2012 from http://www.bms.com/sustainability/worldwide_facilities/Pages/default.aspx Bristol-Myers Squibb (2012 (d)). Help Paying for your Medicine, BMS.com. Retrieved 7 April 2012 from http://www.bms.com/products/Pages/programs.aspx Bristol-Myers Squibb Patient Assistance Foundation( 2008). Program Information, bmspaf.org. Retrieved 7 April 2012 from http://www.bmspaf.org/program2.html Drugs,com (2012). Drugs Associated with Bristol-Myers Squibb Company. Drugs.com. Retrieved 27 April 2012 from http://www.drugs.com/manufacturer/bristol-myers-squibb-company-33.html Drugs,com (2012 (b)). Drugs Associated with Bristol-Myers Squibb Company. Drugs.com. Retrieved 27 April 2012 from http://www.drugs.com/manufacturer/bristol-myers-squibb-company-33.html Drugstore.com (2012). Abilify. Drugstore.com. Retrieved 27 April 2012 from http://www.bmspaf.org/program2.html Drugstore.com (2012 (b)). Plavix. Drugstore.com. Retrieved 27 April 2012 from http://www.drugstore.com/plavix/75mg-tablets/qxn63653117101 Drugstore.com (2012 (c)). Reyataz. Drugstore.com. Retrieved 27 April 2012 from http://www.drugstore.com/reyataz/150mg-capsules/qxn00003362412 Drugstore.com (2012 (d)). Avapro. Drugstore.com. Retrieved 27 April 2012 from http://www.drugstore.com/avapro/75mg-tablets/qxn00087277132 Drugstore.com (2012 (e)). Avalide. Drugstore.com. Retrieved 27 April 2012 from http://www.drugstore.com/avalide/150-12-5mg-tablets/qxn00087287531 Google Finance (2012). Bristol-Myers Squibb. Google. Retrieved 27 April 2012 from http://www.google.com/finance?cid=4760 Google Finance (2012 (b)). Bristol-Myers Squibb Financial Statements. Google. Retrieved 27 April 2012 from http://www.google.com/finance?cid=4760 Wikiinvest (2012). Top 200 Drugs for 2010 Sales. Drugs.com. Retrieved 27 April 2012 from http://www.drugs.com/top200.html Read More