Bristol-Myers Squibb Gets Civil Investigative Demand From FTCNEW YORK, April 3, 2007-Bristol-Myers Squibb Company today said in an SEC filing that it has been served by the FTC with a Civil Investigative Demand regarding the Plavix settlement with Apotex, Inc. An excerpt from the filing is below and the full filing is attached.
Bristol-Myers Squibb Company (the “Company”) was served by the U.S. Federal Trade Commission (FTC) on March 21, 2007 with a Civil Investigative Demand requesting the production of documents and information relating to the proposed settlement with Apotex of the Plavix patent litigation pending in the U.S. District Court for the Southern District of New York. The Company intends to cooperate fully with the investigation.
The Company is also cooperating fully with a previously-disclosed criminal investigation conducted by the Antitrust Division of the U.S. Department of Justice into the proposed settlement with Apotex.
It is not possible at this time reasonably to assess the outcome of the FTC investigation or of the investigation by the Department of Justice, or their impact on the Company.
The underlying patent litigation with Apotex, including the proposed settlement, as well as the criminal investigation conducted by the U.S. Department of Justice, are discussed more fully in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2006, Item 8, Financial Statements and Supplementary Data, Note 21, Legal Proceedings and Contingencies.
Posted: April 2007