Analysts are indicating that Bristol-Myers' loss of the Plavix market--which accounts for 30 percent of its revenue--leaves the company facing some difficult choices, including replacing CEO Peter Dolan or putting the company up for sale. With its stock trading at a 10-year low, buyers could find a bid attractive. But without Plavix, BMS is a significantly weakened drug company. On the list of possible suitors are GlaxoSmithKline, Novartis and Sanofi-Aventis.
- here's The Wall Street Journal's report [1] on Bristol-Myers (sub. req.)
PLUS: Lawyers for Bristol-Myers Squibb argued that a court must stop Apotex from selling a generic version of Plavix or risk ruining the incentive for new medical breakthroughs. Lawyers for Apotex argued that cheaper prices were in everyone's favor and the patent was no longer enforceable. Article [2]
Links:
[1] http://online.wsj.com/article/SB115594889481340088.html
[2] http://www.nytimes.com/2006/08/19/business/19drug.html?ref=health