Bristol-Myers Squibb reports growth in Q4 2013

Bristol-Myers Squibb has announced its financial results for the final quarter of 2013, during which achieved year-on-year growth.

Though sales for the full year were down on 2012, the fourth quarter delivered a revenue total of $4.44 billion (2.68 billion pounds), up by six percent on Q4 2012. Double-digit sales increases of drugs such as Yervoy, Onglyza, Sprycel and Orencia were noted.

During the three-month period, the organisation was able to achieve important regulatory milestones for key products such as Eliquis, daclatasvir and Farxiga.

Moreover, it agreed to sell off its global diabetes business to AstraZeneca, its collaborative partner in this field. This comes as part of a wider strategy to increase investment in immuno-oncology, while discontinuing broad-based discovery work in hepatitis C, diabetes and neuroscience.

For 2014, the firm now expects to its earnings per share to fall in the range of $1.75 to $1.90.

Lamberto Andreotti, chief executive officer at Bristol-Myers Squibb, said: "We are looking forward to 2014 as an important year to advance our specialty care BioPharma model and deliver on key opportunities in immuno-oncology and hepatitis C that will position us well for long-term growth."