Company: Bristol-Myers Squibb
Beginning Price: $35.01
Ending Price: $32.62
The most dramatic move on Bristol-Myers Squibb's ($BMY) 2012 stock-performance chart was the one-day drop on Aug. 2, when the company suspended Phase II testing of a very expensive hepatitis C drug. After buying drug developer Inhibitex in January for $2.5 billion, primarily for its lead hep C candidate, Bristol-Myers carried the research forward--until a patient developed heart failure. Within two weeks, the company had stopped the trial, stopped the program and taken a $1.8 billion charge for tossing that once-promising drug into the dustbin.
That failure, along with some other recent setbacks, has put CEO Lamberto Andreotti into the doghouse. But as November wound down, the company won European approval, along with Pfizer ($PFE), for its much-anticipated blood thinner Eliquis. And in collaboration with AstraZeneca ($AZN), it launched a new diabetes drug in the U.K. and EU. If Bristol-Myers can persuade the FDA to go along on both drugs, too, then Andreotti may find his way back into the sunshine again.
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