Pink Sheet is part of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC’s registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

This copy is for your personal, non-commercial use. For high-quality copies or electronic reprints for distribution to colleagues or customers, please call +44 (0) 20 3377 3183

Printed By

UsernamePublicRestriction
UsernamePublicRestriction

Quarterly Conference Calls, In Brief

Executive Summary

Bristol earnings restatement: Bristol-Myers Squibb expects to "reallocate" approximately $2 bil. in sales recorded during 2000 and 2001 in its upcoming 10-Q filing with the Securities & Exchange Commission. "The expected restatement is based on further review and consideration of the company's accounting for its previously disclosed wholesaler inventory situation and on recent advice from the company's auditors, PricewaterhouseCoopers LLP, based on their ongoing assessment of the company's sales practices in the U.S. pharmaceuticals business and related accounting," Bristol says. The company's accounting for wholesaler inventories is under investigation by the SEC and Department of Justice (1"The Pink Sheet" Oct. 14, In Brief)....One way to boost earnings: Bristol earnings restatement will result in increases in reported revenues and earnings in 2002 (and decreases in 2000 and 2001)...

You may also be interested in...



Schering OTC Claritin Will Launch In December Without Rx Transition Period

Schering-Plough prescription Claritin availability will not overlap with OTC loratadine once the switched drug becomes available in December

Schering OTC Claritin Will Launch In December Without Rx Transition Period

Schering-Plough prescription Claritin availability will not overlap with OTC loratadine once the switched drug becomes available in December

DoJ joins SEC in looking at Bristol

The U.S. Attorney's Office in New Jersey "has started looking into the company's wholesaler inventory situation," Bristol reports. SEC has already opened a formal inquiry into the company's handling of inventory levels, which led Bristol to sharply cut its earnings forecasts for this year. The New Jersey investigation follows a recent meeting between SEC staff and healthcare fraud prosecutors to discuss industry accounting practices (1"The Pink Sheet" Sept. 23, p. 23)...

Related Content

UsernamePublicRestriction

Register

PS143249

Ask The Analyst

Ask the Analyst is free for subscribers.  Submit your question and one of our analysts will be in touch.

Your question has been successfully sent to the email address below and we will get back as soon as possible. my@email.address.

All fields are required.

Please make sure all fields are completed.

Please make sure you have filled out all fields

Please make sure you have filled out all fields

Please enter a valid e-mail address

Please enter a valid Phone Number

Ask your question to our analysts

Cancel