Trenton-Mercer airport loses BMS jets

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Trenton-Mercer airport loses BMS jets

News - Archived News

Written by Hugh McManus

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Monday, 08 September 2008 06:00

September 8, 2008: Trenton-Mercer airport, located just south of Princeton, NJ off route 95, is home to many corporate jets. In the pharma world, Bristol-Myers Squibb [NYSE:BMY], Johnson and Johnson [NYSE:JNJ], Merck & Company [NYSE:MRK] and Pfizer [NYSE:PFE] all have operations there. However, Bristol-Myers Squibb has decided to bow out.

BMS will close its aviation operations and sell off its equipment, four aircraft in all. The company owns two Gulfstream jets and two Sikorsky helicopters, which combined could raise up to $100 million. The thirty-two pilots employed by the company will also be furloughed.

The move is just another sign of the increasingly challenging environment in which big pharma operates.

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