Bristol Myers Squibb Donates $11 Million to Advance Health Equity

Rhea-AI Summary

Bristol Myers Squibb (NYSE: BMY) has announced an $11 million donation to 56 nonprofit organizations to enhance health equity across the U.S. This funding is part of a larger $150 million commitment aimed at improving access to healthcare in underserved communities. The donation will support programs targeting various demographics, including racially and ethnically diverse populations. Bristol Myers Squibb plans to monitor the impact of these initiatives through regular evaluation reports. Additional investments of $50 million by 2025 will further these health equity efforts.

Positive

• Allocated $11 million to 56 nonprofit organizations focused on health equity.
• Initiative is part of a broader $150 million commitment to diversity and health equity.
• Programs aim to serve racially and ethnically diverse and medically underserved communities.
• Plans to track metrics to measure effectiveness and reach of funded programs.
• Additional commitment of $50 million for health equity initiatives by 2025.

Negative

• None.

Bristol Myers Squibb (NYSE: BMY) today announced it has donated a total of $11 million to 56 nonprofit organizations focused on advancing health equity in the United States. These organizations will deliver programs to improve access to high-quality care as well as increase disease awareness and education in racially and ethnically diverse and medically underserved communities, and to improve diversity in clinical research.

BMS Commitment To Advance Health Equity (Graphic: Business Wire)

The donations, awarded in response to a special request for proposals, leverage $11 million of the $150 million pledged by the company in August 2020 to advance diversity, inclusion and health equity.

“We are realizing our vision to transform patients’ lives through science as we build upon our company’s strong foundation of addressing global health disparities to become one of the world’s most inclusive biopharma companies,” said Adam Lenkowsky, Senior Vice President, General Manager of U.S. Commercial at Bristol Myers Squibb. “We understand that the need has never been more urgent, and we have made it a priority to focus our capabilities and resources to eliminate the barriers to accessing high-quality care that exist for underserved and vulnerable populations.”

He added, “In line with this priority, we have chosen organizations that have demonstrated a track record of innovative and effective work in health equity and strong ties to patients and communities. Individually, each is directing its expertise to address the root causes of inequities and to create sustainable solutions. Collectively, this funding initiative will effect change within the health care ecosystem to positively impact the equitable delivery of quality healthcare.”

The grant recipients include U.S.-based patient advocacy and community-based organizations, health equity coalitions, medical societies, nonprofit healthcare institutions and others to fuel their health equity initiatives that support diverse populations including Black/African Americans, Latinx/Hispanic Americans, Asians, American Indian/Alaska Natives, Women, LGBTQ+, people with disabilities and more. The full list can be viewed above.

The donations will fund development and delivery of innovative health equity programs in areas of high unmet need within therapeutic areas such as Oncology, Hematology, Immunology and Cardiovascular Disease. The organizations will track metrics, including the number of individuals served, demographics about the targeted population and others that demonstrate the positive impact of the donation. Evaluation reports will be provided every six months, and a final impact report issued at the program conclusion.

Commitment to Health Equity by Bristol Myers Squibb and the Bristol Myers Squibb Foundation

Recognizing the need to better serve and collaborate with an increasingly diverse U.S. population and underserved communities around the world, Bristol Myers Squibb and the Bristol Myers Squibb Foundation are taking concrete steps to accelerate their respective commitments to health equity and diversity and inclusion. Bristol Myers Squibb commits to providing an additional $50 million in health equity and disease awareness and education focused grants by 2025, increasing awareness of its patient support and affordability program in communities of need, and spending $1 billion with diverse suppliers by 2025. The Bristol Myers Squibb Foundation, an independent nonprofit organization, commits to delivering a new clinical trial career development program for 250 new clinical investigators who are racially and ethnically diverse or who are committed to serving diverse and medically underserved communities, and to mentoring 250 racially and ethnically diverse medical school students to build a career pipeline with the goal of increasing diversity of participants in clinical research.

For more information on the Bristol Myers Squibb and Bristol Myers Squibb Foundation commitments to health equity and diversity and inclusion, visit BMS.com.

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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View source version on businesswire.com: https://www.businesswire.com/news/home/20210224005284/en/

FAQ

What is Bristol Myers Squibb's recent health equity initiative?

Bristol Myers Squibb announced an $11 million donation to 56 nonprofit organizations to enhance health equity in the U.S.

How much has Bristol Myers Squibb pledged for health equity in total?

The company has pledged a total of $150 million to advance health equity and diversity initiatives.

What communities will benefit from Bristol Myers Squibb's donations?

The donations will support diverse populations, including Black/African Americans, Latinx/Hispanic Americans, and others in medically underserved communities.

What are the goals of the programs funded by Bristol Myers Squibb's donations?

The funded programs aim to improve access to high-quality care, increase disease awareness, and bolster diversity in clinical research.

What are Bristol Myers Squibb's future commitments regarding health equity?

The company commits to an additional $50 million in health equity grants by 2025 and aims to spend $1 billion with diverse suppliers.