Bloomberg News

Bristol Myers Squibb Gets Subpoena for Abilify Information

February 17, 2012

(Updates with excerpt from SEC filing in second paragraph.)

Feb. 17 (Bloomberg) -- Bristol-Myers Squibb Co. said it received a subpoena from the U.S. attorney’s office in New York asking for information about sales and marketing of its second- best-selling drug, Abilify, used to treat schizophrenia and other mood disorders.

“It’s not possible at this time to assess the outcome of this matter or its potential impact on the company,” the New York-based firm said in a filing today with the U.S. Securities and Exchange Commission. The subpoena was received last month.

The Abilify antipsychotic drug generated $2.8 billion in revenue in 2011, second after the blood thinner Plavix in the company’s portfolio, according to data compiled by Bloomberg. Abilify faces generic competition in 2013 and 2015 and Plavix loses patent protection this year, the company has said.

Shares of Bistol-Myers Squibb rose 62 cents or 1.9 percent to $32.66 in New York Stock Exchange composite trading at 10:13 a.m.

Laura Hortas, a company spokeswoman, declined to comment on the subpoena beyond the company’s statement.

--Editors: Andrew Dunn, Fred Strasser

To contact the reporters on this story: Phil Milford in Wilmington, Delaware, at pmilford@bloomberg.net; Sarah Frier in New York at sfrier1@bloomberg.net.

To contact the editor responsible for this story: Michael Hytha at mhytha@bloomberg.net.


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