Bristol-Myers Squibb reports growth in third quarter

Bristol-Myers Squibb has reported on the business progress it has made during the third quarter of the current fiscal year.

According to its quarterly financial report, the biopharmaceutical company recorded a sales total of $4.8 billion (3.04 billion pounds), roughly level with the corresponding period of last year, while earnings showed a year-on-year increase.

The firm highlighted the continued sales growth of its drug Plavix during the quarter, as well as its accomplishments in pipeline development, with treatments such as Onglyza and dapagliflozin achieving clinical and regulatory milestones.

In addition, Bristol-Myers Squibb was able to complete a transaction to purchase ZymoGenetics, with which it has been collaborating on a hepatitis C treatment.

Lamberto Andreotti, chief executive officer at Bristol-Myers Squibb, said: "The third quarter continued to highlight the excellent progress we are making with our innovative pipeline, an important driver in the success of our differentiated and focused biopharma strategy."

Earlier this month, the company attended the American Association for the Study of Liver Diseases annual congress, where it presented clinical data on hepatitis treatments such as Baraclude, PEG-interferon lambda and BMS-790052.