Does anyone else think this is overkill?
From the Wall Street Journal:
Federal Bureau of Investigation agents raided the office of Bristol-Myers Squibb Co. Chief Executive Peter Dolan as part of a criminal investigation into an agreement the pharmaceutical company struck to delay the launch of a generic version of its best-selling drug…
FBI agents, working on behalf of the antitrust division of the Justice Department, showed up at Bristol-Myers’s Manhattan headquarters on Wednesday and left with batches of documents, a person familiar with the matter said.
It’s well known that big pharma has been using aggressive tactics to defang generic competition. Those tactics definitely include paying off generic players. From a public policy standpoint I don’t think that’s so great, but I’d rather see it dealt with through legislation than via PR-oriented busts. Do you really think it’s necessary to bust into BMS headquarters to search for paper documents in the CEO’s office? I don’t.July 28, 2006