board will meet Tuesday to decide the fate of embattled CEO Peter Dolan, according to media reports.
The Wall Street Journal
reported late Monday that a federal monitor appointed to oversee the company in the wake of last year's legal settlement had recommended that the board fire Dolan and general counsel Richard Willard.
reported that the monitor, former federal judge Frederick Lacey, told the board Monday that he had concluded that Bristol-Myers breached a so-called deferred prosecution agreement by pursuing an agreement to delay the sale of a generic version of its blockbuster bloodthinner Plavix.
The company could face charges under that agreement, reached last year in settling charges of so-called channel stuffing, if it fails to fire Dolan, the
Bristol and Plavix partner
agreed earlier this year to pay Canada's Apotex $40 million to delay marketing of generic Plavix till 2011.
But the deal unraveled when the government began a probe of the agreement and state attorneys general, again empowered by last year's channel-stuffing settlement, rejected it.
Apotex went on the market briefly before Bristol and Sanofi won an injunction, but their shares fell sharply as investors worried about lost revenue.