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Financial Report: Bristol-Myers Squibb

2013 tax benefit impacts earnings

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By: Kristin Brooks

Managing Editor, Contract Pharma

Bristol-Myers Squibb

4Q Revenues: $4.3 billion (-4%)

4Q Earnings: $27 million (earnings were $735 million 4Q13)

FY Revenues: $15.9 billion (-3%)

FY Earnings: $2.0 billion (-22%)

Comments: U.S. revenues decreased 8% to $2.1 billion in the quarter. International revenues were flat. Abilify sales were down 25% to $476 million. Baraclude sales were down 17% to $341 million. Reyataz sales were down 17%, and the Sustiva franchise sales were down 5% to $407 million. Global Eliquis sales grew by $210 million, Yervoy sales were up 41%, Orencia sales grew 12%, Sprycel sales grew 9%, and Daklinza and Sunvepra, had combined sales of $207 million.The fourth quarter 2013 included a tax benefit of $392 million related to the company’s $2.5 billion acquisition of Inhibitex. Results were also impacted by the divested Diabetes Alliance, with revenues down 90% to $47 million in the quarter.

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