Bristol investigation expands
Executive Summary
Investigation of Bristol-Myers Squibb by the New Jersey U.S. Attorney "has expanded to include a review of whether there was any violation of Federal securities laws in connection with the proposed settlement with Apotex" under the terms of a 2004 consent order with the Securities & Exchange Commission, the company says in its third quarter earnings release Oct. 26. The U.S. Attorney is investigating governance issues relating to the company's negotiations with Apotex; Bristol's failed settlement with Apotex over generic Plavix may impact the company's compliance with a deferred prosecution agreement with the New Jersey U.S. Attorney. The Department of Justice is also conducting a criminal investigation of the proposed settlement (1"The Pink Sheet" Aug. 14, 2006, p. 3)...