I think of the Bible quote about there being no balm there, whatever that means. Which isn't a great connotation, but Wikipedia tells me it's a reference to the plant "balm of Gilead" and more akin to describing a famine by saying Wisconsin is out of cheese. Nothing about the place itself deserving judgment.
EDIT: Oh, and it's a pharmaceutical company, so that makes a lot of sense actually. I rather doubt some pharma-bro was going "No, see, get this, we'll tell them it's a reference to balm of Gilead, but really it's because we want to enslave all women!" and got the whole boardroom snickering.