New products provide solid quarter for BMS
Bristol-Myers Squibb has posted net income of $852 million for the fourth quarter, up over 76%, and helped by lower taxes, while revenues climbed 7% to $5.45 billion driven by the strong performance of its antivirals.
The company's bloodthinner blockbuster Plavix (clopidogrel) slipped 3% to $1.67 billion, while sales of the antipsychotic Abilify (aripiprazole) rose 4% to $707 million. However, the antihypertensive Avapro/Avalide (irbesartan) was down 23% to $195 million.
As for the firm's HIV drugs, sales of the Sustiva (efavirenz) franchise rose 14% to $412 million, and Reyataz (atazanavir) was up 11% to $416 million. Revenues from Baraclude (entecavir) for hepatitis B climbed 20% to $318 million.
Sprycel (dasatanib) for leukaemia leapt 34% to $227 million, while Orencia (abatacept) for rheumatoid arthritis increased 27% to $257 million. The cancer agent Erbitux (cetuximab) was up 10% to $181 million, while the recently-launched melanoma drug Yervoy (ipilimumab) contributed $144 million. One of the most striking performances was that of Onglyza (saxagliptin) and the recently-launched Kombiglyze (saxagliptin/metformin), which together delivered $153 million in sales.
Chief executive Lamberto Andreotti said the quarter saw solid financial results, "concluding a very good year that sets the foundation for the long-term growth of the company". He added that in 2012, B-MS "will build on the momentum…as we transition beyond the loss of exclusivity of Plavix and Avapro”.
By Kevin Grogan
PharmaTimes
http://www.pharmatimes.com/Article/12-01-27/New_products_provide_solid_quarter_for_B-MS.aspx
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