LAST WEEK:
James Robinson, BMS's chairman, has said that CEO Peter Dolan has the company's unwavering support."Peter has done a superb job in turning around the company, from developing a new management team, to a pipeline considered to be one of the best in the industry, to the recent approvals which bring innovative new medicines to patients in need," Robinson said in a statement the company released Friday. " He has the full and complete confidence of the board."
THIS WEEK:
Directors of Bristol-Myers Squibb are open to replacing CEO Peter Dolan over his mishandling of a failed settlement to delay generic competition to Plavix, The Wall Street Journal reported Friday, citing an unnamed source. Shares have fallen 20% over the past three weeks after a criminal probe started, state attorneys general rejected the proposed deal and Apotex launched a generic Plavix. According to the report, the board has not found any evidence of misconduct, but the failed settlement threatens a large chunk of its annual $3.8 billion in Plavix revenue.
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