The solid investment-grade ratings on New York, N.Y.-based Bristol-Myers Squibb Co. reflect the company's strong position in the pharmaceutical industry, its diverse product portfolio, and solid cash flow generation that is in excess of current needs. Despite a series of major drug patent expirations over the past two years, Bristol-Myers' drug portfolio remains diverse, and the company continues to maintain strong positions in the oncology, cardiovascular, and virology markets. The cardiovascular arena, in particular, provides strong growth opportunities, as sales of the company's antiplatelet drug, Plavix, and A-II inhibitor, Avapro, are expected to generate annual double-digit growth for the next several years. The cholesterol reducer, Pravachol, is also expected to continue to be a significant contributor to sales. Meanwhile, Bristol-Myers
