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Financial Report: BMS

April 29, 2014

Eliquis and AZ diabetes deal drive earnings in the quarter

1Q Revenues: $3.8 billion (-1%)

1Q Earnings: $936 million (+54%)

Comments: The company completed the sale of its diabetes business to AstraZeneca, receiving $3.3 billion in closing and milestone payments during the quarter. Sprycel sales were up 19% to $342 million. Yervoy sales grew 18% to $271 million. Orencia sales were up 13% to $363  million, and Baraclude sales grew 11% to 406 million. Sustiva franchise sales were down 18% to $319 million due to generic competition. Global revenues for Eliquis were $106 million in the quarter, up from $22 million in 1Q13. R&D expenses increased 2% to $946 million in the quarter.