4Q Revenues: $4.3 billion (+1%)
4Q Loss: $129 million (earnings were $27 million 4Q14)
FY Revenues: $16.6 billion (+4%)
FY Earnings: $1.7 billion (-17%)
Comments: U.S. revenues increased 9% to $2.3 billion in the quarter. Opdivo sales were $475 million, up from $5 million in 4Q15. Eliquis sales were $602 million compared to $281 in 4Q14. Orencia sales were $540 million, up 22%. Baraclude sales were $309 million in the quarter, down 9% in the quarter. Hepatitis C Franchise sales were $458 million, compared to $207 million in 4Q14. R&D expenses increased 61% to $1.9 billion in the quarter due to higher charges resulting from business development transactions and an in-process research and development (IPRD) impairment.