Speculation is continuing to mount that the board of Bristol-Myers Squibb may decide to drop the axe on CEO Peter Dolan at its meeting tomorrow. Of course, there's no hard evidence to back that up, but the analysts have been buzzing for weeks that the board has to take some decisive action in Dolan's case after he blundered his way through a failed attempt to prevent a generic competitor to Plavix. A federal judge recently granted a temporary injunction against generic Plavix, but allowed a mountain of generic supplies already on the market to course its way through the supply pipeline. That decision alone could cost the company more than half a billion dollars. If Dolan does go, it will mark the third recent exit of a big pharma CEO, following the departures from the executive suites at Merck and Pfizer.
- read the article on Dolan from The Wall Street Journal (sub. req.)