Word: squibb
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That's not huge bucks for a company with $17 billion in revenues, as Halliburton reported in 1998. But scandals over what counts as sales took Xerox down a peg over the last year and have caught up with drug companies Merck and Bristol-Meyers Squibb. The Judicial Watch lawsuit alleges that Halliburton used the revenue-enhancement gimmick to ward off investor scrutiny as the company's financials deteriorated when the oil industry retrenched. Revenues fell anyway, to $12 billion by 2000, Cheney's last year in command...
...Russia and China, both of which are predicted to become the next hot spots of the disease. Earlier this month, 15 Caribbean nations agreed to purchase desperately needed AIDS drugs from major pharmaceutical companies - at discounts of up to 90 percent. The companies, including Abbot Laboratories, Bristol-Myers Squibb and Merck decided it was more expedient to strike a deal with the Caribbean as a region, rather than wrangle with the individual countries. Local leaders called the agreement a "major victory" in the fight against AIDS...
...firm Hicks, Muse, Tate & Furst is hiring former U.S. Secretary of State Henry Kissinger to help it build a European strategy. Hey, it worked for Nixon. Aggressive Treatment It might be time for the drug industry to pop an anti-anxiety pill. Twenty-nine U.S. states sued Bristol-Myers Squibb, alleging it blocked cheaper versions of its breast-cancer drug Taxol. The Banking Blues UBS Warburg will cut 10% of its London investment bankers because of the industry-wide downturn in trading. This is only the latest round of cuts to hit the financial sector, which lost about...
SmithKline Beecham, now part of GLAXOSMITHKLINE, anticipated BRISTOL-MYERS SQUIBB's acceleration of its anticancer drug Taxol, in part because Bristol-Myers Squibb took a curious interest in amending the Endangered Species Act to enable more harvesting of the yew tree, whose bark produces the active chemical agent in Taxol. SmithKline's suspicions were strengthened in the early '90s when it noticed an increase in the number of oncology positions listed in help-wanted ads run by its competitor in trade papers. Bristol-Myers Squibb had also told financial analysts it was investing more money in its oncology unit...
...which tracks the industry. Auxiliary businesses also did well. Telecommunications companies like Verizon and Southwestern Bell, which provide the digital ISDN lines that are used for 80% of videoconferencing communication (at about 60[cents] per minute) posted more than $3.6 billion in videoconferencing-related sales last year. Bristol-Myers Squibb alone logged 2 million minutes in videoconferences (which in turn saved the company hundreds of millions of dollars in travel expenses). Wainhouse projects that revenues for connection services related to videoconferencing will top $8.6 billion...