Tuesday, September 12, 2006

Bristol-Myers' Dolan Resigns in U.S. Probe of 2005 Agreement

Sept. 12 (Bloomberg) -- Bristol-Myers Squibb Co. Chief Executive Officer Peter Dolan and the drugmaker's general counsel will resign after U.S. regulators called for their departures as part of a criminal investigation.
A federal monitor last night told the Bristol-Myers board that Dolan, 50, and General Counsel Richard Willard should be dismissed because their effort to protect sales of the company's top-selling heart pill Plavix broke the terms of a 2005 agreement that let the company avoid prosecution for inflating sales, said a person familiar with the investigation.

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