NEW YORK (Standard&Poor's) Sept. 6, 2006--Standard&Poor's Ratings Services affirmed its ratings (including the 'A+' long-term corporate credit rating and 'A-1' short-term rating) on Bristol-Myers Squibb Co. The ratings were removed from CreditWatch, where they were placed with negative implications Aug. 8, 2006, following the surprise launch by Canadian generic drug maker Apotex Inc. of a generic version of Bristol-Myers' best-selling drug, Plavix. The rating outlook on the New York-based pharmaceutical giant is negative. The ratings affirmation follows the announcement that a federal judge has granted an injunction to the company and Sanofi-Aventis S.A. halting the sale of Apotex's generic version of Plavix. The cardiovascular drug generates roughly $4 billion in annual sales for Bristol-Myers. However, Plavix's
