BRISTOL-MYERS CUTS FORECAST, SHARES FALL

Bristol-Myers Squibb. Co. cut its 2005 profit forecast on Friday, a day after warning it may abandon an experimental diabetes drug, sending its shares down more than 3 percent. The company, which also posted disappointing quarterly results, now expects 2005 profits to drop as much as 18 percent on lower sales of its cholesterol fighter Pravachol and plunging sales of medicines facing generic competition.
Reuters