Antitrust laws were essentially created to stop businesses that got too large from blocking competition and abusing their power. Mergers and monopolies can limit the choices offered to consumers because smaller businesses are not usually able to compete. Although free and open competition ensures lower prices and new and better products, it has the potential to significantly limit market diversity.
Bristol-Myers Squibb, our BioPharma strategy uniquely combines the reach and resources of a major pharma company with the entrepreneurial spirit and agility of a successful biotech company. With this strategy, we focus on our customers’ needs, giving maximum priority to accelerating pipeline development, delivering sales growth and continuing to manage costs. Around the world, our medicines help millions of people in their fight against cancer, cardiovascular disease, diabetes, hepatitis B, HIV/AIDS, rheumatoid arthritis and psychiatric disorders.
In 2008, Bristol Meyers Squibb support generic drugs of their name brand products. Bristol Meyers Squibb wants to help people have access to the medicines they need in order to cure the disease they have been diagnosed and to continue functioning in their daily lives even if they are insured or uninsured. The reason a company would want to stymie generic competition is that nobody will be buying their products and the company doesn’t receive any profits from generic drugs. The company still wants people to have communication with their doctors in order to receive the medications that they need. The company believes that the drawbacks of pharmaceutical price controls to help control rising costs far outweigh any potential benefits. The company asks that policy makers follow certain guidelines which are individual patient needs and the physician-patient relationship must be at the center of the U.S. health care system. Policy approaches should be...