Biotech Values

[DewDiligence]

>BMS is pretty well-known as the most conservative big pharma company, from both a legal and regulatory standpoint. Very by-the-book, to the letter.<

You’re joking, right? In the past few years BMY has:

1. Conned investors about the status of the purported blockbuster, Vanlev, leading investors to think the program was still active when management knew it wasn’t.

2. Manipulated the patent system regarding BuSpar and Taxol, settling a lawsuit for almost $700M.

3. Settled a lawsuit for $300M regarding channel stuffing and illicit accounting (#msg-6700456).

4. Is now being investigated for criminal wrongdoing in the Plavix patent case.

Recap: BMY paid about $1B in settlements (from items #2 and #3 above) and could have ended up owing a lot more. This you consider playing by the book?