case analysis two - Corporate Social Responsibility...

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Corporate Social Responsibility 10/29/2007 Bristol-Myers Squibb Case Analysis Situation Audit When looking at the Bristol-Myers Squibb Company (BMS) you see various strengths and weaknesses. The strengths of the company are plentiful. First, BMS has been a leader for years in the pharmaceutical drug industry and has patents on many of the leading drugs on the market. Most of BMS’ drugs deal with the treatment and recovery of cancer patients, which in our society today is a major market. BMS has also been a great company to invest in because of their reputation as a leader in cancer drugs and for many years have been showing investors great profits. BMS also has a few major weaknesses. First, BMS invested in the company “ImClone” which was a leading company in cancer research and was going to come out with supposedly great new cancer and chemotherapy drugs. However, the Food and Drug Administration rejected ImClones application for two chemotherapy drugs and therefore the company suffered. This is the scandal that involved Martha Stewart in 2002 and dealt with insider trading. Secondly, there has been two major scandals in the companies history. First, BMS lied to stockholders reporting higher sales than actually were correct. Secondly the company obstructed smaller generic companies’ ability to make a generic version of two of BMS’ leading drugs. The opportunities for BMS are also great. At this point in our society, cancer is the biggest disease problem the world has ever seen. As a company that specializes in cancer research and
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treatments, BMS has room to expand and develop new drugs and remedies for the awful disease. Threats to BMS are also large because of the prominence of cancer in today’s society. Another company could be first to develop a new drug that is leaps and bounds above the technologies BMS has.
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