Grand jury investigating Bristol-Myers; scope of probe unknown

02/19/2004 | MarketWatch

A federal grand jury is looking into Bristol-Myers Squibb's accounting practices, according to news sources, but no one is disclosing the reason for the New Jersey-based investigation. The company has said it is being investigated for its program of offering large discounts to wholesalers, allegedly to buy more prescription drugs than they could sell and a practice an executive said would inflate revenues and create an inventory glut.

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