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4-Traders Homepage  >  Equities  >  Nyse  >  Bristol-Myers Squibb Co    BMY

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Bristol-Myers Gets SEC Subpoena In Foreign Bribery Probe

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04/26/2012 | 07:01pm CEST
   By Peter Loftus 
   Of  
 

Drug maker Bristol-Myers Squibb Co. (>> Bristol Myers Squibb Co.) said it has received a subpoena from the U.S. Securities and Exchange Commission as part of an investigation into bribery overseas.

Bristol-Myers said the subpoena received in March seeks information related to sales and marketing practices in "various countries."

The New York-based company said in a quarterly report filed Thursday with the SEC that it was cooperating with the government. A spokeswoman declined comment beyond the information in Thursday's SEC filing.

Bristol-Myers, which sells the anti-clotting drug Plavix, previously disclosed that the SEC was investigating the activities of the company's units in Germany, concerning potential violations of the U.S. Foreign Corrupt Practices Act, or FCPA.

U.S. authorities in recent years have stepped up enforcement of the FCPA, which bars U.S. companies from bribing foreign officials to obtain or retain business. Multinational drug and medical-device makers based in the U.S. have been among the targets of enforcement.

Last year, Johnson & Johnson (>> Johnson & Johnson) agreed to pay nearly $80 million to resolve allegations that it paid bribes to doctors in three European countries, as well as kickbacks to Iraq to illegally obtain business under former leader Saddam Hussein.

Other drug makers--including Pfizer Inc. (>> Pfizer Inc.), Merck & Co. (>> Merck & Co., Inc.) and Eli Lilly & Co. (>> Eli Lilly & Co.)--also have been the subjects of federal inquiries regarding the FCPA.

-By Peter Loftus, Dow Jones Newswires; +1-215-982-5581; [email protected]

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Financials ($)
Sales 2017 19 748 M
EBIT 2017 5 201 M
Net income 2017 4 482 M
Finance 2017 393 M
Yield 2017 3,04%
P/E ratio 2017 19,93
P/E ratio 2018 18,18
EV / Sales 2017 4,45x
EV / Sales 2018 4,27x
Capitalization 88 224 M
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Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 55,8 $
Spread / Average Target 4,1%
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NameTitle
Giovanni Caforio Chief Executive Officer & Director
Lamberto Andreotti Chairman
Charles A. Bancroft CFO, EVP & Head-Global Business Operations
Paul von Autenried Chief Information Officer & Senior Vice President
Thomas James Lynch Chief Scientific Officer & Executive VP
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