Word: bristols
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...fact, drug-safety regulation is often stricter overseas than in the U.S. Through the 1990s, Bristol-Myers Squibb marketed its antidepressant, Serzone (its chemical name: nefazodone), with ever growing success. In a typical earnings announcement released in July 1996, Bristol-Myers, which had revenue of $19.9 billion for the 12 months ended Sept. 30, 2003, declared that "sales of central-nervous-system drugs rose, particularly on the strength of STADOL NS, an antimigraine product, and Serzone, an antidepressant treatment with a low incidence of side effects." The next year, medical studies were released claiming "Serzone to be superior to Prozac...
...wasn't until a few years later that one of Serzone's rare but decidedly significant side effects began to leak out: liver damage, sometimes requiring a transplant and in extreme cases resulting in death. Bristol-Myers announced in 2002 that it would stop selling the drug in the Netherlands and Sweden, and eventually withdrew it from all of Europe and Canada. The FDA's only response in the U.S. has been to require a black-box warning on the label, stating in part, "Cases of life-threatening hepatic failure have been reported in patients treated with Serzone." Over...
...deploy assets this year and beyond, save room for dividend payers. Byron Wien, market strategist at Morgan Stanley, predicts that a surge in the prices of stocks with a yield will be one of the big surprises of 2004 and that the year's winners will include Pfizer, Wyeth, Bristol-Myers, GE, Microsoft (it started paying a dividend last year), Coca-Cola and Altria. Any number of mutual funds focus on dividend payers. Among the best are Fidelity Dividend Growth, T. Rowe Price Dividend Growth and (if you invest through a broker) Capital Income Builder from the American Funds group...
...always been a bit elevated (it hovers around 100, which is right at the limit recommended by the U.S. government). So I followed with particular interest the results of the first head-to-head comparison of two of the most popular statins: Lipitor (made by Pfizer) and Pravachol (Bristol-Myers Squibb...
...fatty deposits will translate into fewer heart attacks and deaths, that hasn't been proved. The patients in this study will have to be watched a lot longer than 18 months to find out. Meanwhile, there are more statin studies in the works, including a big one sponsored by Bristol-Myers Squibb (this one was paid for by Pfizer). Those studies could show that there's an even better statin out there. Hmm, maybe I'll wait for that...