Bristol-Myers Squibb to expand activity in Israel

Among the largest and most veteran pharmaceutical companies, Bristol-Myers Squibb Inc. (NYSE: BMY) is one of least well known in Israel. Until recently, it did not have any activity in Israel, and it does not have any significant development agreements with an Israeli company. But behind the scenes, it has been active in Israel for many years, and is now looking to expand its operations."We have decided to expand our activity in Israel following the launching of Yervoy, a drug that treats melanoma," Bristol-Myers Squibb VP and Global Development Lead for Yervoy Rachel Humphrey told "Globes". "We are cooperating with Israeli specialists, who have given us clinical and scientific information and valuable insights. We are currently building a relationship surrounding the drug."Bristol-Myers Squibb is a 150 year-old US company. Legend says that Edward Robinson Squibb, who was a surgeon in the US Navy, was disenchanted with the poor quality of medicines used on US military vessels, and dumped them all in the ocean. In 1858 he started his own pharmaceutics manufacturing business in New York.At the same time, William Bristol and John Ripley Myers invested in a failing pharmaceutical company in New York, and made their first fortune by developing salt laxatives and anti-bacterial toothpaste. A few years later, the three companies merged together to become Bristol-Myers Squibb.The company was involved in various medical fields for years, and recently became more focused and narrowed its activity to medical issues, and sold all non-medical company activity.