BMS For Sale
Rumors are flying that Bristol Myers Squibb (BMS) may be purchased or merged with European pharmaceutical giant Sanofi-Aventis. BMS and Sanofi have marketing agreements to sell the anti-clotting agent Plavix and the blood pressure treatment Avapro. The news has pushed BMS stock to a nearly three year high. Sources say that the merger could be announced within the next few weeks. BMS is still reeling from the Erbitux debacle of several years ago and the recent launch of a generic version of Plavix which flooded the market until a judge ordered generic manufacturer Apotex to stop distributing its version of Plavix.
This may be good news for BMS shareholders but bad news for BMS employees who will likely be right-sized if the merger is approved and takes place.
Stayed tuned for updates.
Until next time.....
Good Luck and Good Job Hunting!!!!!!
