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Financial Report: Bristol-Myers Squibb

Avapro, Plavix expirations pummel results

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Bristol-Myers Squibb

1Q Revenues: $3.8 billion (-27%)
 
1Q Earnings: $623 million (-58%)
 
Comments: Revenues were pounded by patent expiration for Avapro/Avalide (-78%) in March 2012 and Plavix (-95%) in May 2012. U.S. sales decreased 44% to $2.0 billion. International net sales increased 6% to $1.9 billion. Baraclude sales were up 13% to $366 million. Erbitux sales were down 9% to $162 million. Sprycel sales were up 24% to $287 million. Yervoy sales were up 49% to 229 million. Abilify sales were down 16% to 52 million. Orencia sales were up 26% to $320 million. R&D expenses increased 2% to $930 million in the quarter.

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