Bristol Myers is spending $300 million to on clinical and corporate diversity
The killing of George Floyd and the resulting global focus on systemic racism drew a lot of statements from the world’s major drug companies. Bristol Myers Squibb is among the first to issue one with some sizable dollar figures attached.
Today Bristol Myers promised to spend $300 million over five years on a wide-ranging initiative to improve access to care for racial and ethnic minorities, boost clinical trial diversity, and make the company’s upper ranks less white and male. By 2022, the company expects to reach gender parity in its executive ranks and double the representation of Black and Hispanic employees among leadership. In addition, Bristol Myers has committed to spending $1 billion with what the company described as “Black and other diverse-owned businesses.”
It’s worth noting that the commitment works out to $60 million a year, which is 1.7% of Bristol Myers’s 2019 profits and about .2% of its annual revenue. It’s also worth noting that $300 million is a large number of dollars.
Today Bristol Myers promised to spend $300 million over five years on a wide-ranging initiative to improve access to care for racial and ethnic minorities, boost clinical trial diversity, and make the company’s upper ranks less white and male. By 2022, the company expects to reach gender parity in its executive ranks and double the representation of Black and Hispanic employees among leadership. In addition, Bristol Myers has committed to spending $1 billion with what the company described as “Black and other diverse-owned businesses.”
It’s worth noting that the commitment works out to $60 million a year, which is 1.7% of Bristol Myers’s 2019 profits and about .2% of its annual revenue. It’s also worth noting that $300 million is a large number of dollars.
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