Bristol-Myers eyes biotech products, companies for acquisition

10/24/2008 | Bloomberg

Bristol-Myers Squibb CEO James Cornelius told analysts that the company is considering spending some of its $7.2 billion income to buy biotech firms and products included in its "long list" of targets. Cornelius said he is confident that Bristol will meet its goals "over the next couple of years" despite strong competition from Pfizer, Merck & Co. and other major drugmakers.

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