Report: Bristol exec nabbed on insider trading charge

Bristol-Myers Squibb ($BMY) is having a very bad day today. As stock was falling in the wake of the news that its $2.5 billion hep C drug may not be worth $2.50, an executive was charged with insider trading ahead of three key acquisitions, according to a report from Bloomberg. The FBI is hauling Robert Ramnarine into federal court today to charge that the pension exec made more than $300,000 using his insider info on buyout talks with Pharmasset, ZymoGenetics and Amylin. Ramnarine, the business news service reports, was responsible for doing the due diligence on the pension packages at the companies. BMS completed the buyouts of ZymoGenetics and Amylin, but ended up passing on Pharmasset. Story