- Achieves $1 billion investment goal with diverse-owned suppliers
- Expanding diverse-owned supplier spend globally to increase impact
Bristol Myers Squibb (NYSE: BMY) announces induction into the Billion Dollar Roundtable, joining other Fortune 100 companies that have invested $1 billion with diverse-owned suppliers. This milestone highlights BMS' longstanding history of taking purposeful action to advance health equity, foster a diverse and inclusive workplace, improve and increase the diversity in its clinical trials and expand the diversity among its supplier base.
BMS established aspirational inclusion and diversity goals and health equity commitments in 2020 to address health disparities by 2025. In connection to these goals, BMS aspired to spend $1 billion with diverse and minority-owned businesses and has delivered on this important milestone ahead of its 2025 timeline. Sustaining and building on this achievement will remain a priority.
Investing in diverse-owned suppliers brings agility and innovation to BMS, while closing economic gaps as a social determinant of health in diverse communities. BMS has contracted with more than six hundred diverse suppliers owned by underrepresented groups, women, veterans, LGBTQ+, people with disabilities and other diverse populations; underscoring an unwavering dedication to creating opportunities and driving economic impact.
“Our investment reinforces our commitment to collaborating with industry leaders and driving business priorities,” said David Elkins, Executive Vice President and Chief Financial Officer, Bristol Myers Squibb. “We are proud of the meaningful progress we’ve made to meet our goal.”
BMS has cultivated powerful partnerships with a wide range of diverse-owned business partners and industry leaders to enhance its operations. BMS actively collaborates with renowned organizations such as the National Minority Supplier Development Council, Women's Business Enterprise National Council, National LGBT Chamber of Commerce, Disability IN, and the National Veteran Owned Business Association. By partnering with these organizations, BMS aligns with their shared objectives of economic development, wealth creation, and job opportunities for diverse suppliers and communities.
While joining the Billion Dollar Roundtable marks a significant achievement, BMS looks to build upon this success.
“We have increased our diverse spend by being purposeful and creating the right partnerships,” said Rondu Vincent, Executive Director, Global Supplier Diversity and Sustainability, Bristol Myers Squibb. “Inclusion is a BMS Value and at the end of the day, the numbers quantify our spend but the value is the impact we’re making in the communities we live, work and serve.”
BMS is expanding its spend globally by developing international contracting opportunities, including a partnership with Minority Supplier Development UK (MSDUK). BMS remains committed to championing supplier diversity as an essential element to our business growth strategy. By nurturing a diverse supplier base, BMS aims to increase innovation, foster economic growth, and drive equitable outcomes for patients and communities around the world.
About Bristol Myers Squibb
Bristol Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases. For more information about Bristol Myers Squibb, visit us at BMS.com or follow us on LinkedIn, Twitter, YouTube, Facebook, and Instagram.
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