Shares of Bristol-Myers Squibb sank Tuesday as generic drug maker Apotex disclosed it has begun selling a cheaper version of the pharmaceutical company's drug Plavix. Bristol-Myers and its partner Sanofi-Aventis, which sells Plavix abroad, say their patent has been infringed. The recent focus on generic Plavix began in late July when Bristol-Myers and Sanofi-Aventis announced the Justice Department had launched a criminal probe into an out-of-court settlement they had brokered with Apotex.
August 09, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Shares of Bristol-Myers Squibb Co. sank more than 6 percent Tuesday as a generic drug maker disclosed it has begun selling a cheaper version of the big pharmaceutical company’s best-selling drug Plavix.
Apotex Corp. disclosed in a news release that it had launched a generic version of the blood thinner only hours after Bristol-Myers said in a filing with U.S. regulators that it had expected to see the competing drug in the market soon.
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