Diversity & Inclusion Commitments
Bristol Myers Squibb has long recognized that inherent in our vision–transforming patients’ lives through science–is a critical responsibility to build a diverse and inclusive culture and drive these same principles across all aspects of our business. We are incredibly encouraged by the progress we have made in recent years in service to patients–a journey that involves our workforce, suppliers, partners and communities all working together to drive innovation and deliver transformative medicines worldwide.
In 2020, this work took on even greater importance as we all witnessed social unrest and the devastating impacts of the COVID-19 pandemic across the world, highlighting significant social and health disparities. In the United States, for example, Black/African American and Hispanic/Latinx communities are at greater risk of contracting the virus or experiencing more severe illness and poorer health outcomes. More broadly, there is an increasing focus on the systemic issues experienced by many Black/African Americans and more broadly in underserved communities that result in lesser access and quality of care. We know various forms of inequity are not unique to the United States.
Consistent with our mission, vision and values, Bristol Myers Squibb believes we have a unique responsibility to address these disparities. That is why we have further accelerated and strengthened our existing commitments in this area. Over the next five years, Bristol Myers Squibb will invest $150 million to address health disparities and clinical trial diversity.
For example, the company is accelerating disease awareness and patient affordability and support programs for at-risk and medically underserved populations and advocating for policies that promote health equity. To increase diversity in clinical trials, we have identified medically underserved populations in the most racially and ethnically diverse metro areas in the United States. To help narrow racial gaps in treatment, these sites will be the focus of new clinical trials.
We know supplier diversity can be an important driver in economic development and social equity for underserved communities. As a result, we will spend $1 billion globally by 2025 with Black/African American and other diverse-owned businesses.
And the company is working globally to achieve gender parity at the executive level and will double representation from June 2020 levels of both Black/African American executives from 3.0 percent to 6.0 percent and Hispanic/Latinx executives from 3.7 percent to 7.4 percent in the U.S. by year-end 2022.
At the same time, the Bristol Myers Squibb Foundation has had a sole focus on health equity across the globe for over 20 years. During the past year, the Foundation has made its own additional $150 million commitment to address health disparities and clinical trial diversity as well as to enhance employee giving over the next five years. Between 2020-2025, the Foundation will award $50 million in U.S. health equity grants that will continue to build on its health systems and community impacts. The Foundation is also working to increase recruitment of diverse patients into clinical trials in urban and rural U.S. geographies, and is supporting a new program that will train and develop 250 new diverse and diverse-community-serving clinical trial investigators in partnership with the National Medical Fellowships. Finally, the Foundation aims to deepen the impact of non-profit organizations fighting disparities and discrimination through a 2-to-1 match on donations made by BMS employees in the U.S. and Puerto Rico.