Drugmakers Step Back From Diversity Pledges in Bow to Trump (3)

Last year, Bristol Myers Squibb Co. devoted half a page of its annual report to its diversity, equity and inclusion efforts, going so far as to list the company’s internal groups for Black, Latino and LGBT employees. This year, the word “diversity” only appears under risk factors.

Bristol’s 2024 report, issued Wednesday, deleted a paragraph spelling out its goals to diversify clinical trials and invest in minority-owned businesses. The company also excised a reference to its “longstanding commitment to elevate inclusion, diversity and health equity.”

Large companies are increasingly facing lawsuits and activist pressure to scale back or cancel ...