Syndetics cover image
Image from Syndetics

Bristol-Myers Squibb : patents, profits, and public scrutiny / Meghan Carter, Matt McHale, Tom Triscari, James S. O'Rourke.

By: Contributor(s): Material type: TextSeries: Publisher: London : SAGE Publications Ltd, 2017Description: 1 online resourceContent type:
  • text
Media type:
  • computer
Carrier type:
  • online resource
ISBN:
  • 9781526404510 (ebook) :
Subject(s): DDC classification:
  • 659.285
Online resources: In September 2006, Bristol-Myers Squibb announced that it had fired CEO Jim Dolan, who had led the company since 2001. Dolan's termination was the result of a failed patent protection agreement with Canadian generic pharmaceutical company, Apotex. The agreement was designed to prevent Apotex from releasing a generic version of Plavix, Bristol-Myers Squibbs blockbuster blood thinner medication that had revenues of {dollar}5.9 billion and accounted for 30% of Bristol-Myers total sales. Federal regulators refused to sign off on the deal and started an investigation into the agreement.Meanwhile, Apotex released its generic Plavix and quickly gained 75% market share of new prescriptions. The failed agreement was the second major problem that occurred during the tenure of Dolan: due to an accounting scandal, Bristol-Myers was forced to restate earnings for 2001, 2000 and 1999, which caused the company to pay fines of over {dollar}800 million. During Dolan's time as CEO, Bristol-Myers stock price declined by 60%. After the failed patent agreement and accounting scandals, Bristol-Myers was faced with an upcoming Plavix patent protection trial. The company must find a way to regain stockholder trust.
No physical items for this record

Originally published in Carter, M., McHale, M., Triscari, T., & ORourke, J. S. (2006). Bristol-Myers Squibb: Patents, profits, and public scrutiny. 06-17. Notre Dame, IN: The Eugene D. Fanning Center for Business Communication, Mendoza College of Business, University of Notre Dame.

In September 2006, Bristol-Myers Squibb announced that it had fired CEO Jim Dolan, who had led the company since 2001. Dolan's termination was the result of a failed patent protection agreement with Canadian generic pharmaceutical company, Apotex. The agreement was designed to prevent Apotex from releasing a generic version of Plavix, Bristol-Myers Squibbs blockbuster blood thinner medication that had revenues of {dollar}5.9 billion and accounted for 30% of Bristol-Myers total sales. Federal regulators refused to sign off on the deal and started an investigation into the agreement.Meanwhile, Apotex released its generic Plavix and quickly gained 75% market share of new prescriptions. The failed agreement was the second major problem that occurred during the tenure of Dolan: due to an accounting scandal, Bristol-Myers was forced to restate earnings for 2001, 2000 and 1999, which caused the company to pay fines of over {dollar}800 million. During Dolan's time as CEO, Bristol-Myers stock price declined by 60%. After the failed patent agreement and accounting scandals, Bristol-Myers was faced with an upcoming Plavix patent protection trial. The company must find a way to regain stockholder trust.

Description based on XML content.

Licensed e-book