The superior investment-grade ratings on New York, N.Y.-based Bristol-Myers Squibb Co. reflect the company's strong presence in the worldwide pharmaceutical industry, its diverse product portfolio, and its solid financials, factors partially offset by an expected string of significant product patent expirations over the next several years and uncertain prospects for its new product launches. Bristol-Myers' drug portfolio remains diverse, with strong positions in the oncology, cardiovascular, and virology markets. Indeed, the company's top three selling drugs account for only 34% of total drug sales, whereas at many of the major pharmaceutical companies, the top three account for 50% of sales. The cardiovascular arena in particular provides growth opportunities for Bristol-Myers, as sales of the company's anti-platelet drug Plavix and its
