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Tuesday, September 12, 2006
Bristol-Myers Squibb CEO Resigns
With countless people struggling to pay ever increasing medical costs, the public revelation of efforts to keep a less expensive, generic version of the drug off the market must seem to be a true public relations nightmare for those at the head of Bristol-Myers. So-called 'Big Pharm' has few friends among the common people these days. Some cynics may point to CEO Dolan's real problem, the primary reason for the heavy pressure for him to step down, as being that "since Dolan took over as CEO, Bristol-Myers's stock has lost 56 percent of its value," as reported by Bloomberg.com. Interestingly, share prices are now on their way back up, according to recent reports.
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posted by Sharon Secor at 10:34 AM
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