At Bristol-Myers Squibb, stakeholder engagement is an integral part of our efforts to achieve our Mission. We recognize that discovery, development and delivery of innovative medicines to address unmet medical needs are improved by partnership and understanding of stakeholder needs and expectations. Our stakeholders include patients and the broader healthcare community, our employees, business associates, government, non-governmental organizations, investors and communities.
Engagement with our stakeholders provides opportunity for greater understanding of emerging issues, trends and expectations, fosters increased trust and support, and provides synergies. Addressing stakeholder expectations and emerging issues as part of business strategy facilitates the sustainability and success of our company.
The stakeholders with whom we actively engage are identified based on factors such as:
- their ability to help us better define areas of unmet medical need, particularly in our disease areas of focus,
- their relative importance to our business operations,
- the knowledge and insight they can bring to the discussion,
- the benefits of enhanced interaction and
- the opportunity for critical and informed feedback.
We also have systems in place to allow all stakeholders to communicate with us regarding specific issues or concerns. For example, we engage with patients and healthcare providers seeking information on our products; we engage with multi-lateral organizations, investors and analysts seeking information about the company’s financial performance, business strategy or governance programs, and we engage with communities furthering collaboration/support.
Engagement with our employees plays an important role in the conduct of our business, and is conducted across numerous venues. Communications from the top down, from the bottom up and across functional areas, are facilitated, including through the following types of initiatives:
- Functional and cross-functional committees,
- State-of-the-business addresses and written communications
- Functional area “Town Hall” meetings including international broadcasts on Bristol-Myers Squibb TV with opportunity for employees to ask questions
- Extensive intranet communications including an employee newsletter with opportunity for employee feedback
- Intranet communication sites and social media
- “Lunch & Learn” events
- Employee surveys
- Supporting employee resource groups
- Maintaining employee health and safety committees
- Communicating business updates, with opportunity to submit questions/comments or contact the Corporate Ombudsman
- Collective bargaining with unionized employees
- Bristol-Myers Squibb helpline
- Annual performance assessments, including the opportunity to secure 360 and multisource feedback
- Array of Employee Reward and Recognition Programs
- Leadership and learning programs, including support of continuing education
The table below provides additional examples of stakeholder groups with whom we typically engage in any given year, and means of engagement.
Examples of engagement
Patients & Healthcare Providers
- Patient advocacy groups
- Physicians, physician assistants, nurses
- Providing product information through advertising (providing product information to patients is limited to the U.S)
- Providing information about specific disease areas
- Providing patient support programs and customer service phone number
- Participating in health fairs and medical conferences
- Communicating through websites
- Communicating through print advertising
- Socially Responsible Investment Raters
- Conducting regular investor/analyst meetings, including formal quarterly conference calls
- Holding our annual shareholder meeting
- Maintaining a comprehensive Internet website, that includes our Annual Reports and other financial reports, Sustainability Report, Foundation Report, and other related information
- Operating e-mail listserves to inform the interested public of developments
- Participating in Socially Responsible Investor rating surveys and feedback
- Third-party manufacturers
- Sales partners
- Alliance partners
- Sole-source suppliers
- General suppliers
- Surveying key suppliers on governance, product quality, environmental, health and safety performance
- Auditing product quality, environmental, health and safety performance of key third-party manufacturers
- Encouraging supplier diversity initiatives
- Holding product surety discussions with organizations that are part of our distribution chains
- Health authorities
- Other regulators/policy makers
- Advocating enhancement of regulatory and other government programs
- Communicating with regulators/policy makers about critical issues affecting the pharmaceutical industry, the medical community and our patients
- Non-governmental organizations
- Multi-lateral organizations (such as, World Health Organization and United Nations)
- Communities near or impacted by facilities/operations
- Reporting Transparency Raters (such as, CERES, Pacific Sustainability Index)
- Environmental groups (such as, Association of New Jersey Environmental Commissioners)
- Supporting public health initiatives, such as the London Declaration on Neglected Tropical Diseases
- Posting policy and position statements of particular interest on corporate website
- Providing an annual Company overview for use externally
- Providing multiple public contact options on our corporate website, including Corporate Ombudsman, phone, e-mail, regular mail, and web tools
- Considering expectations for transparency in our reporting
- Participating in voluntary initiatives with multi-lateral and non-governmental organizations
- Partnering to support civil society concerns, such as the environment
- Supporting community outreach and philanthropy
- Research partners (such as, contracted partners, and advisors)
- Grant recipients
- Establishing research partnerships
- Awarding research grants
- Collaborating on science education curriculum
Biopharma and broader industry organizations
- Participating in industry associations such as, PhRMA, BIO and IFPMA
- Participating in the Pharmaceutical Supply Chain Initiative (PSCI)
Engagement on Access Bristol-Myers Squibb engages with patient and professional advocacy organizations regarding patient access issues on a regular basis in disease areas in which it is engaged (virology, oncology, mental illness, etc.), to discuss and understand these issues and work together to support programs and policy solutions to help address patient access issues. These meetings with stakeholders are undertaken in a variety of forums that range from formal meetings focused on specific disease areas, bringing together patient advocates, medical providers, scientists, and policy experts, to more informal meetings meant to share information or to provide an educational briefing to government entities and/or patient advocacy or community groups.
Melanoma Exposed is a public awareness campaign designed to educate Americans about melanoma and its risk factors and to encourage people to take a more active role in their skin health. The Melanoma Exposed campaign is a partnership with the Melanoma International Foundation, Melanoma Research Alliance, Melanoma Research Foundation and The Skin Cancer Foundation, and is sponsored by Bristol-Myers Squibb.
Investor Communications Bristol-Myers Squibb conducts quarterly investor meetings that provide a forum for questions from investors. We also engage in regular dialogue with shareholder groups to discuss topics of interest to these organizations.
Internet Communications We launched a transparency landing page on our company website that provides a one-stop, easy-to-find resource that provides an environment to help build a foundation of trust and respect among our colleagues, health care professionals, patients, stockholders and the public. Among other things, the Site includes information on clinical trials and corporate giving. We develop and post links to position statements on select policy issues on our website (such as health care reform).
Other Contact Opportunities Public contact options are displayed on our corporate website, to receive inquiries/comments via phone, e-mail, regular mail or web-based tools such as online chat. Our corporate website also provides a range of information on major facilities including community and environmental activities and a local facility phone number. A company overview is issued annually for use by site managers around the world. Our employees are surveyed each year to obtain their feedback on a range of issues.
Examples of business association memberships
Bristol-Myers Squibb employees around the globe serve in the following:
Our response to stakeholder engagement
- Biotechnology Industry Organization, a non-profit organization to provide advocacy, business development and communications services for members
- Business for Social Responsibility, a nonprofit organization that helps companies integrate sustainability into business strategy. Bristol-Myers Squibb is a member of the Healthcare Working Group and Pharmaceutical Supply Chain Initiative.
- European Federation of Pharmaceutical Industries and Associations, an advocacy organization for companies proactively involved in the research, the development and the manufacture of medical products for human use in Europe.
- National Safety Council, a membership organization that provides professional development and strategies to save lives and prevent injuries at work, on the roads and in our communities.
- Pharmaceutical Research and Manufacturers of America, an advocacy organization for leading pharmaceutical research and biotechnology companies to encourage discovery of new medicines.
- Mercer HSE Networks, a membership organization providing knowledgeable peer-to-peer communities in the field of human resource management or health, safety, and the environment. Bristol-Myers Squibb is a member of the Occupational Safety and Health Group and the Corporate Health Directors Network.
- TransCelerate BioPharma Inc. a non-profit organization focused on accelerating the development of new medicines
- Wildlife Habitat Council, a nonprofit, non lobbying group of corporations, conservation organizations and individuals dedicated to restoring and enhancing wildlife habitat. Bristol-Myers Squibb is a member and project sponsor.
- World Environment Center, a non-profit, non-advocacy organization that advances sustainable development through the business practices of member companies and in partnership with governments, universities and other stakeholders. Bristol-Myers Squibb is a member and founding member of the European Group.
Feedback from stakeholder engagement conducted by employees across our business operations and functional areas helps to inform and support our business decision-making and strategy, helps to shape our communications and helps in assessing opportunities to improve our policies and programs. Stakeholder input is used by cross-functional groups, such as our Senior Management Team, Sustainability Council and Environment, Health and Safety Steering Committee, in developing strategy. Results of internal employee surveys are benchmarked with other companies, and feedback is provided to site and functional area management on opportunities for improvement.
Policies and position statements have been developed or strengthened and shared externally as a result of stakeholder input and engagement. Examples of policies developed and shared include our Standards of Business Conduct and Ethics for Third Parties, Human Rights Policy and California Transparency in Supply Chains Act Disclosure. Others can be referenced under Key Issues. Increased transparency on initiatives related to access to medicines can be found here. Policies shared on our website include key policies referenced in our Principles of Integrity, Standards of Business Conduct and Ethics, at the end of the document.