Bristol Myers Squibb concentrates on serious diseases: cancer, blood disorders, cardiovascular conditions and immunology. Its immuno-oncology drugs helped establish the class, and the Celgene acquisition brought blood cancer franchises and a deep pipeline. Like all large pharmaceutical companies it lives on a treadmill, replacing revenue as blockbusters lose exclusivity, and its pipeline of cell therapies, radiopharmaceuticals and neuroscience assets is the answer offered. The company's lineage reaches back to 1887, and the dividend is a fixture.