Plavix Settlement Fallout
Stock Tickers: BMY, SNY, CEPH
Bristol-Myers Squibb (BMY) is down 1.8% pre-market at $24.01 after the state attorneys general rejected their pact with Apotex over generic Plavix. This was formalized on Friday afternoon, but had been telegraphed before this after the earnings because of the DOJ/FTC issues. This of course means that Sanofi-Aventis (SNY) was left in the lurch as well.
What is interesting is that Cephalon (CEPH) is trading lower in sympathy, but even worse in terms of percentages. CEPH stock was down as much as almost $5.50 pre-market, but is now trading down $3.73 at $62.31 in pre-market trading. This company is merelt deemed as a potential patent "at risk" situation because of its patent agreements with generic companies over its Provigil, which "could" face the same scrutiny at some point. While this seems extreme, that is the way the ball bounces sometimes.
Jon C. Ogg
July 31, 2006
Bristol-Myers Squibb (BMY) is down 1.8% pre-market at $24.01 after the state attorneys general rejected their pact with Apotex over generic Plavix. This was formalized on Friday afternoon, but had been telegraphed before this after the earnings because of the DOJ/FTC issues. This of course means that Sanofi-Aventis (SNY) was left in the lurch as well.
What is interesting is that Cephalon (CEPH) is trading lower in sympathy, but even worse in terms of percentages. CEPH stock was down as much as almost $5.50 pre-market, but is now trading down $3.73 at $62.31 in pre-market trading. This company is merelt deemed as a potential patent "at risk" situation because of its patent agreements with generic companies over its Provigil, which "could" face the same scrutiny at some point. While this seems extreme, that is the way the ball bounces sometimes.
Jon C. Ogg
July 31, 2006
posted by Jon C. Ogg at 9:02 AM
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