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Home Industry News Bristol-Myers Squibb reports second-quarter results

Bristol-Myers Squibb reports second-quarter results

24th July 2009

Bristol-Myers Squibb has released details of what it has described as an “excellent” financial performance in the second quarter of 2009.

The company announced that net sales for the quarter hit $5.38 billion (3.26 billion pounds) – an increase of three per cent on the same period last year.

It also revealed growth of 36 per cent in both net earnings and GAAP diluted EPS from continuing operations.

Among the highlights during the quarter were the extension of its collaboration with Otsuka on Ablify, the granting of marketing authorisation for Onglyza and the successful phase three trials for its investigational co-stimulation blocker belatacept.

James M. Cornelius, chairman and chief executive of the firm, said the results “clearly represent how Bristol-Myers Squibb is rapidly transforming into a next-generation biopharma leader through robust science, superior operational performance and disciplined financial management”.

The announcement follows the news that Bristol-Myers Squibb is to acquire Medarex at an aggregate purchase price of $2.4 billion.

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