Markets

Judge Orders BMS's Bodnar to Write a Book Explaining Lies He Told the Feds

By Jim Edwards

Updated on: June 9, 2009 / 12:33 PM EDT / MoneyWatch

A New York federal judge ordered Andrew Bodnar, a former svp/strategy at Bristol-Myers Squibb, to write a book explaining how he ended up lying to the federal government about a deal he struck with Apotex in a patent dispute on Plavix.

Bodnar (pictured) was convicted in April of making false statements to the FTC. He told the agency that BMS would compete against Apotex's generic Plavix, when in fact he had struck a secret oral deal giving Apotex six months without BMS competition. (Download Bodnar's plea agreement here.) In addition to being forced to write a book, Bodnar got a slap on the wrist: two years' probation and a $5,000 fine.

Judge Ricardo Urbina said:

"I would like to see you write a book" so other people "don't find themselves in a similar situation," Urbina told Bodnar. "Who knows, it may even be inspirational."

Of particular interest will be the chapter where Bodnar -- who, remember, was BMS's strategy chief! --tries to organize a conspiracy to deceive the FTC but fails to ensure that all the conspirators are telling the same lie. He then submitted a written statement to the FTC saying BMS will not compete on Plavix.

When the FTC didn't like that statement, he submitted a second one which said nothing about competing.

And when the FTC didn't like that, he submitted a third statement that said, "oh alright then, we will compete" -- even though Apotex had already told the FTC that Bodnar had assured them BMS would not compete.

The book's title could be, "The Man Who Couldn't Keep His Lies Straight."

Hat tip to Internet Drug News.