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Financial Report: Bristol-Myers Squibb 1Q08

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Bristol-Myers Squibb

1Q Revenues: $5.2 billion (+20%)

1Q Earnings: $661 million (-4%)

Comments: Growth was driven by pharmaceutical sales, which totaled $4.2 billion. U.S. sales increased 26% to $2.5 billion and International sales increased 14% to $1.7 billion. Sales of Plavix and Avapro/Avalide (both part of the company’s alliance with Sanofi-Aventis) increased 39% to $1.3 billion and 13% to $305 million, respectively. Plavix sales benefited year-to-year because of 1Q07’s brief introduction of a generic version by Apotex. Abilify sales were $454 million (+24%). Reyataz sales were $297 million (+13%). Sales of the Sustiva Franchise increased 21% to $273 million. Baraclude sales were $108 million (+140%). Orencia sales were $87 million (+112%). R&D expenses were $795 million (+1%). In the quarter, the company completed the sale of its Medical Imaging business to Avista Capital Partners for approximately $525 million.

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