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.