Shareholders filed a securities fraud class action against the drug manufacturer in the U.S. District Court for the District of New Jersey. The class claimed Bristol-Myers did not disclose negative information about Vanlev, its potential wonder drug for hypertension. The company withdrew Vanlev's New Drug Application from consideration by the U.S. FDA after the agency expressed serious concerns about the incidence and severity of angioedema side effects. Bristol-Myers Squibb has agreed to pay investors a $185 million class action settlement. (Jan-23-06) [BUSINESS WIRE]
Mar-14-06 Update: [PR NEWSWIRE]
