Bristol-Myers Squibb reports third quarter financial results

Bristol-Myers Squibb reports third quarter financial results

Third quarter financial results

  • Bristol-Myers Squibb posted third quarter 2015 revenues of $4.1 billion, an increase of 4% compared to the same period a year ago. Global revenues increased 11% adjusted for foreign exchange impact.
  • U.S. revenues increased 4% to $2.0 billion in the quarter compared to the same period a year ago. International revenues increased 4%, or 19% adjusted for foreign exchange impact.
  • Gross margin as a percentage of revenues was 73.0% in the quarter compared to 74.3% in the same period a year ago.
  • Marketing, selling and administrative expenses decreased 4% to $983 million in the quarter.
  • Advertising and product promotion spending increased 13% to $193 million in the quarter.
  • Research and development expenses increased 15% to $1.1 billion in the quarter.
  • The effective tax rate was 26.0% in the quarter, compared to 27.4% in the third quarter last year.
  • The company reported net earnings attributable to Bristol-Myers Squibb of $706 million, or $0.42 per share, in the quarter compared to net earnings of $721 million, or $0.43 per share, a year ago.
  • The company reported non-GAAP net earnings attributable to Bristol-Myers Squibb of $648 million, or $0.39 per share, in the third quarter, compared to $750 million, or $0.45 per share, for the same period in 2014.
  • Cash, cash equivalents and marketable securities were $10.0 billion, with a net cash position of $2.8 billion, as of September 30, 2015.

Bristol-Myers Squibb’s global sales in the third quarter included Daklinza and Sunvepra, which grew by $353 million, Opdivo, which grew by $304 million, Eliquis, which grew by $250 million, Orencia, which grew 9%, and Sprycel, which grew 7%.

About Bristol-Myers Squibb

Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.

TUESDAY, 27 OCTOBER 2015

Source: http://www.worldpharmanews.com/

October 27, 2015 / Pharma News