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Bristol’s Plavix woes continue

Executive Summary

Bristol-Myers Squibb has received a subpoena from the New York Attorney General's office for documents relating to its settlement with Apotex over Plavix (clopidogrel), the company announces April 26. The proposed deal, which was denied antitrust clearance by the Federal Trade Commission, is also being investigated by the Department of Justice (1"The Pink Sheet" Aug. 7, 2006, p. 9). In addition, the company announces April 26 that it has received a Civil Investigative Demand by the FTC requesting documents related to the proposed settlement. Bristol maintains that it is impossible at this time to assess the impact of the investigations, if any, on the company's compliance with the Deferred Prosecution Agreement with the United States Attorney's Office for the District of New Jersey. The deferred prosecution agreement is part of a 2004 settlement Bristol entered into with the SEC and DOJ over allegations of "channel stuffing," under which the company has two years to comply with all terms of the settlement or face prosecution (2"The Pink Sheet" June 20, 2005, p. 17)...

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