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NEWS ABOUT: Bristol-Myers Squibb

Do the Huge Amounts We Spend on Cancer Pay Off?

New study says yes, experts call it incredibly misleading

(Newser) - The US spends a lot more on cancer treatments than most countries, spending an average of $70,000 per case, compared to $44,000 in Europe. But it's worth it, a controversial new study argues, because American patients live an average 11.1 years after being diagnosed, compared to... More »

Bristol-Myers Allegations: Push Our Drugs, Meet the Lakers!

Authorities say company bribed doctors with team 'happy hours'

(Newser) - It's a good day for bribery allegations:
  • In California, Bristol-Meyers Squibb is accused of bribing doctors to push its drugs in exchange for swanky gifts and "happy hours" with Los Angeles Lakers players. Players also participated in "dream camps" for doctors and their families. Ex-player Lucius Allen, who
... More »

Scientists Hail Advances on Melanoma, Lung Cancer

New drugs show significant promise for treatment

(Newser) - Scientists say they've made notable progress against two of the most difficult cancers to treat—lung cancer and melanoma, reports the New York Times . On lung cancer, a drug in study of 82 people shrank the tumors of most participants, a result so remarkable that it will be featured at... More »

Big Pharma Flouts Laws on Off-Label Uses

Billions in fines don't stop illegal promotion

(Newser) - Back in 2004, a unit of drug giant Pfizer pleaded guilty to marketing a drug, Neurotonin, for unapproved uses, paid $430 million in fines, and promised to clean up its act—which it had no intention of doing. "At the very same time Pfizer was in our office negotiating... More »

Novartis Acquires Plavix Rival

Novartis acquires worldwide rights from a San Francisco biopharmaceutical firm

(Newser) - Novartis AG will pay a San Francisco biopharmaceutical company $75 million—with the potential for an additional $500 million—for the worldwide rights to an experimental anticlotting drug the Swiss drug firm hopes will rival Plavix, reports the Wall Street Journal. Market leader Plavix rang up $8.22 billion in... More »

Bristol-Myers Makes Bid for Icahn's ImClone

Offers 29% premium for biotech partner; shares soar

(Newser) - Already a 17% shareholder, Bristol-Myers Squibb laid down a $4.5 billion offer to buy the  rest of ImClone shares, the Wall Street Journal reports. The $60-a-share offer, sent to ImClone chairman Carl Icahn today, is a 29% premium on yesterday's closing price and makes Bristol the second pharma giant... More »

SEC Delves Deeper Into Execs' Pay

Regulator pushes companies to reveal criteria for measuring performance

(Newser) - The SEC wants companies to tell shareholders how they measure an executive’s performance when calculating pay, but companies are balking, reports the Wall Street Journal. Their reticence has prompted the commission to send out a second wave of letters to some of the 350 companies it originally queried after... More »

Bristol-Myers to Slash Jobs, Shut Plants

Drugmaker shrinks, says expiring patents will cut profits

(Newser) - Bristol-Myers Squibb said today it will lay off 10% of its work force—totaling 4,300 jobs—and close or sell half its 27 factories in a plan to save $1.5 billion by 2010, the Wall Street Journal reports. The firm also will sell its medical-imaging division and possibly... More »

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