Bristol-Myers Squibb hails ‘solid’ fourth-quarter performance

Bristol-Myers Squibb has published its fourth quarter financial report for 2010, highlighting improved sales and key clinical developments.

The company generated $5.11 billion (3.21 billion pounds) from sales during the three months, up by two percent compared to Q4 2009 and contributing to an overall annual sales total of $19.48 billion.

This growth was led by rising demand for treatments such as Plavix, Onglyza, Baraclude and Orencia, which helped to offset falling sales for certain mature brands.

During the quarter, the firm was also able to complete its acquisition of ZymoGenetics, while agreeing new partnerships with Oncolys BioPharma and Pharmasset.

Furthermore, it will be allying with the Chinese company Simcere Pharmaceutical Group to co-develop the anti-cancer agent BMS-817378.

Bristol-Myers Squibb now expects to achieve low to mid-single-digit revenue growth in 2011.

Lamberto Andreotti, chief executive officer of Bristol-Myers Squibb, said: "We anticipate several key pipeline events that will help shape our future as we continue to position our company for long-term success as a focused, differentiated biopharmaceutical company."