Bristol-Meyers Squibb Company

Running Head: Bristol-Meyers Squibb Company
BRISTOL-MEYERS
SQUIBB COMPANY
Australian Perspective
System04128

Bristol-Meyers Squibb Company
Executive Summary
When it comes to pharmaceutical sector in Australia, the first name pops up in mind is
Bristol-Meyers Squibb Australia Pvt Ltd. It the one of the biggest and the oldest
biopharmaceutical operating from more than six decades in Australia. It has its headquarters
Mulgrave, Australia. This report will focus mainly on the functioning of the company, the
applicable laws, which the company have to follow, and the effect when they are not
followed. This report will also focus on the international treaties and convention which
impact the working of the Bristol-Myers Squibb Australia Company.
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Bristol-Meyers Squibb Company
Table of Contents
Executive Summary...................................................................................................................1
About the Company...................................................................................................................3
Applicable Rules and Legislations.............................................................................................3
International Treaties and Conventions.....................................................................................7
Bibliography...............................................................................................................................9
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Bristol-Meyers Squibb Company
About the Company
Bristol-Myers Squibb Company was incorporated in 1887 by William McLaren Bristol and
John Ripley Myers. Initially, it was a little assembling organization that sold medicines
straightforwardly to specialists. Considerably prior, in 1858, industry pioneer Dr Edward
Robinson Squibb framed a pharmaceutical organization that would in the long run bear his
name for a considerable length of time to come, ER Squibb and Sons. In 1989, Squibb and
Bristol Myers blended, framing the cutting edge organization that is presently known as
Bristol-Myers Squibb (Anon., 2019). It operates in Biopharmaceuticals (Anon., 2016). Its
headquarters is in New York and in Australia, it is known as Bristol-Myers Squibb Australia
Pvt Ltd with head office in Mulgrave, Australia (Anon., 2017). Bristol-Myers Squibb
Australia Pty. Ltd is private company with the owners are being from other nation. It has
23,700 employees worldwide (Anon., 2019) and 240 in Australia (Anon., 2017). It
distributes, imports and sells the pharmaceuticals products. The products are baraclude,
ceenu, daklinza, eliquis, etopophos and others. The government of Australia recognised the
company has an outstanding goodwill in the domestic and the global market for making sure
that safe, high standard and beneficial medicines are available on time.
Applicable Rules and Legislations
Bristol-Myers primarily deals in Biopharmaceuticals sector and its headquarter is in
Australia. Hence, Australian laws will be applicable. To give legal protection to public
health, government and administrators have to come up with laws, provisions and to
implement concerned authorities at apex level to make sure that the manufacturing, trading
and usage of medicines are in control and regulated properly and it is transparent to the public
as well (Anon., 2012). Some of the regulatory framework and agencies which supervise
and regulate, which are applicable on Bristol-Myers Squibb are-
Therapeutic Goods Act, 1989 - This Act gives the lawful necessities for purpose of trade,
production and sale of remedial products in Australian market. The act provides the
necessary needs regarding registration, posting and including prescriptions, medical
administration and organic items in Australian Register of Therapeutic Goods and other
requirements of law including labelling, promoting and appearance of the product. Different
laws, provisions and determinations are supporting the Act. This Act is a Commonwealth
Act, which gives particular single national system to control on therapeutic goods and
assisting trade and services among territories and the state. This helps both industries and the
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