Bristol-Myers Squibb
2Q Revenues: $4.9 billion (+1%)
2Q Earnings: $706 million (+6%)
YTD Revenues: $9.4 billion (-1%)
YTD Earnings: $1.4 billion (flat)
Comments: Worldwide pharmaceutical sales were flat at $3.9 billion. U.S. pharmaceutical sales increased 2% to $2.2 billion due to growth of key products and sales of newer products Baraclude, (increased to $59 million, up from $14 million 2Q2006) Orencia (increased to $55 million, up from $18 million) and Sprycel ($35 million, up from $21 million), partially offset by the impact of increased generic competition for Pravachol (down 59% to $132 million). Sales of Plavix and Avapro/Avalide, part of the company's alliance with sanofi-aventis, increased 4% to $1.2 billion and increased 6% to $297 million, respectively. R&D expenses increased 5% to $778 million. In the quarter, the company's NDA for ixabepilone was accepted by the FDA and Orencia was approved by the EMEA.
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