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Bristol-Myers Squibb Company Outlines Strategy and Productivity Transformation Initiative During Update to Investment Community
Date:12/5/2007

g the meeting, senior management of the company will discuss the status of the strategic review the company has been conducting over the past several months and explain how it intends to continue the company's development into a next-generation BioPharma company. The company's vision of a BioPharma company is the outgrowth of a process that evaluated the company's four core businesses in great detail: specialty medicines, cardiovascular and metabolic drugs, mature pharmaceutical brands and the Health Care Group, and contains the following elements:

-- an innovative portfolio of new products targeted at serious unmet

medical needs, or significant clinical advancement over existing

therapies;

-- a Selectively Integrated Business Model, which complements internal

capabilities with external innovation, streamlines manufacturing,

creates a targeted approach to geographies and customers, utilizes

strategic partnerships with suppliers and competitors, and focuses on

innovative sales and marketing practices;

-- Strong Continuous Improvement capabilities, simplified processes,

enhanced efficiency and effectiveness and aligned infrastructure to

support growth.

The review reaffirmed several elements of the company's ongoing strategic focus. The company will continue to invest in key growth products, including specialty and biologic medicines, and cardiovascular and metabolic drugs. The company will also continue to scale back assets in its profitable, though declining, mature brands.

The company is seeking opportunities to maximize the value of its Health Care Group companies for shareholders. Consistent with this objective, the company plans to divest its Medical Imaging business. Further, the company is currently reviewing a range of strategic alternatives for its ConvaTec and Mead Johnson businesses. "We remain fully aware of the important contributions
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SOURCE Bristol-Myers Squibb Company
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