Bristol-Myers Squibb's board is set to meet today as the US drugmaker faces pressure over its attempts to delay generic competition for Plavix, its most important drug.
The negotiations that surrounded the drug have subsequently heaped pressure on Peter Dolan, chief executive, the group's dividend and its financial outlook.
Bristol's meeting is the first face-to-face assembly of all its directors since a generic version of Plavix launched last month and quickly eroded profits.
Part of the fall-out will see the board today consider whether to cut Bristol's dividend. They might also discuss the G-men visiting Dolan's office, as well.
Bloomberg is reporting that a court-appointed monitor recommended last night that he be ousted, according to a person familiar with the matter.
Dolan and General Counsel Richard Willard should be dismissed because they broke the terms of a 2005 agreement that let the drugmaker avoid prosecution for inflating sales, former U.S. District Judge Frederick Lacey told directors in a closed-door meeting last night in New York, the person said.
Insider's view: So Dolan's fate will be decided today. If it hasn't been already!
If not Dolan then who might lead BMS? (Ex-) Pfizer's Karen Katen, maybe?
PharmaGossip readers have already spoken.
More at The FT.
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