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Pharmaceutical

Bristol-Myers-Squibb Employee Charged with Trade Theft

February 04, 2010
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Federal prosecutors in New York said a former employee of Bristol-Myers-Squibb Co. stole trade secrets from the company in a plot to launch his own pharmaceutical business in his native India, reports the Associated Press. The discharged employee, Shalin Jhaveri, 29, of Syracuse, was charged in U.S. District Court with stealing trade secrets and proprietary information from the New York-based company while taking part in a management training program. He was fired for his actions. Employed on an immigrant worker''s visa, Jhaveri had been a technical operations associate at Bristol since November 2007. If convicted, he could be sentenced to up to 10 years in prison and a $250,000 fine. The thefts took place over an extended period. The monetary value of the documents, which were mainly in electronic form, was not disclosed. In the training program, Jhaveri was rotated through various departments where he was exposed to sensitive areas of the company.
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