Peter Dolan, the disgraced former chief executive of Bristol-Myers Squibb, should have stuck to his guns.
Recently, former Chief Executive Peter Dolan was forced out by botched negotiations with a generic drug firm.
On its conference call, Bristol Chief Executive Peter Dolan said that the deal would "unlock" the full value of muraglitizar.
In a letter to his employees, Bristol-Myers Chief Executive Peter Dolan argued that the Plavix mess is actually bad for consumers.
Also undergoing a brain transplant is Bristol-Myers Squibb, which fired serial blunderer Peter Dolan and is still looking for a permanent replacement.
Bristol-Myers Squibb 's board ousted Chief Executive Peter Dolan and General Counsel Richard Willard over their handling of negotiations with Apotex, a Canadian generic drugmaker.
Bristol had been hobbled by a series of drug research failures, patent expirations, and accounting scandals that led to the resignation of former chief executive Peter Dolan.
Peter Dolan lost his job as Bristol's chief executive over the botched negotiation that allowed Canadian drugmaker Apotex to launch a generic version of Plavix at almost no financial risk.
Better yet, Chief Executive Peter Dolan spoke on the conference call, after remaining almost silent as Bristol was savaged by clinical failures, plummeting sales and three years' worth of earnings restatements.
Also undergoing a brain transplant is Bristol-Myers Squibb (nyse: BMY - news - people ), which fired serial blunderer Peter Dolan and is still looking for a permanent replacement.
"The filing of these documents is a significant step toward putting these issues behind us, and we look forward to focusing on the future, " said Chief Executive Peter Dolan .in a prepared statement.
For one thing, as Bristol (nyse: BMY - news - people ) Chief Executive Peter Dolan argued in a prepared statement, it may help put the company's awful accounting behind it.
Another reason for the deal may be a slight shift in priorities for Cornelius, who took over the drug company after former CEO Peter Dolan was ousted following a botched deal with a generic drug maker.
Peter Dolan , the chief executive of Bristol-Myers Squibb (nyse: BMY - news - people ), has apparently decided that the best way to avoid headaches is to stop dealing with the direct-to-consumer, over-the-counter market, and focus on pharmaceuticals.
Merck 's (nyse: MRK - news - people ) Raymond Gilmartin , UAL 's (nyse: UAL - news - people ) Glenn Tilton , Bristol-Myers Squibb 's (nyse: BMY - news - people ) Peter Dolan and Hewlett-Packard 's (nyse: HPQ - news - people ) Carly Fiorina round out the bottom-dwellers with scores in the low teens.
From now on, Dolan is going to run the business with a tighter hand, with Chief Scientific Officer Peter Ringrose reporting directly to him.
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