25 jul: Europa/aktier: Nervøsitet gemt, men ikke glemt
25 jul: Valuta: 5 dages fald i euro vendt til stigning
25-07-2012 14:05:00

Bristol-Myers Profit Falls 28%

Relateret indhold

Bristol-Myers Squibb Co.'s (BMY) second-quarter profit declined 28%, as sales were eroded by recent patent expirations for top-selling drugs including the anticlotting pill Plavix.

The New York drug maker also lowered its forecast of full-year 2012 earnings.

Bristol-Myers plans to get through the patent losses for Plavix and other drugs by boosting sales of newer drugs. The company hopes to bolster its product lineup with its recent agreement to purchase diabetes-drug maker Amylin Pharmaceuticals Inc. (AMLN) for $5.3 billion.

In May, Bristol-Myers lost U.S. patent protection for Plavix, which is used to stave off recurrent heart attacks and strokes. This exposed the brand to lower-priced competition from generic versions, and Bristol's second-quarter Plavix sales tumbled 60% to $741 million. Bristol-Myers co-markets the drug with Sanofi (SNY).

Another blow was the March loss of patent protection for blood-pressure medications Avapro and Avalide, which pushed combined sales of those drugs down 53% to $117 million.

Bristol and other drug makers are in the midst of a wave of patent expirations for blockbuster drugs that have pressured sales. Bristol has had some success bringing new drugs to market to help offset the patent losses, but it also has experienced some research setbacks.

For the second quarter, Bristol's profit fell to $645 million, or 38 cents a share, from $902 million, or 52 cents a share, a year earlier. Excluding certain costs such as asset impairments, earnings were 48 cents a share, matching the mean estimate of analysts surveyed by Thomson Reuters.

Overall sales declined 18% to $4.44 billion, just ahead of the Thomson mean estimate.

U.S. sales dropped 27% to $2.6 billion, while non-U.S. sales fell 1% to $1.9 billion.

Although sales for Plavix and the blood-pressure medications declined substantially, sales for other top products increased, ranging from a 1% gain for antipsychotic Abilify to a 71% jump for skin-cancer treatment Yervoy.

Bristol-Myers continues to try to bring more drugs to market. One of the most closely watched is Eliquis, an anticlotting drug co-developed with Pfizer Inc. (PFE). The U.S. Food and Drug Administration declined to approve it in June, asking for more information about clinical data. Analysts believe the drug could be a multibillion-dollar seller.

Bristol also is developing new drugs for cancer and hepatitis C that have shown promise in studies.

The company, however, recently disclosed negative clinical results for experimental liver-cancer drug brivanib. And the FDA has declined to approve the diabetes drug dapagliflozin, developed in partnership with AstraZeneca PLC (AZN).

Bristol said Wednesday an advisory committee of the European Union issued a positive opinion on the company's proposed subcutaneous formulation of anti-inflammatory drug Orencia. A European Commission decision is pending.

The company lowered its forecast of 2012 earnings to a range of $1.78 to $1.88 a share from a prior range of $1.90 to $2 a share. However, Bristol didn't change its forecast of adjusted earnings, which exclude certain items, of $1.90 to $2 a share. Bristol said the unchanged adjusted earnings forecast factors in the expected three-cents-a-share negative impact related to the planned Amylin acquisition.

Write to Peter Loftus at peter.loftus@dowjones.com

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

(END) Dow Jones Newswires

July 25, 2012 08:05 ET (12:05 GMT)

Copyright (c) 2012 Dow Jones & Company, Inc.

Opret kommentar

Relateret debat

  • 1 uge
  • 1 måned
  • 1 År
Ingen indlæg

Fondsbørsmeddelelser

Skako: Straffes efter nedtrykkende kvartalsregnskab

28-05-2015 15:40:43
Årets første kvartal var præget af en vigende ordreindgang hos det faaborgensiske industriselskab Skako. Og på bundlinjen blev underskuddet næsten fordoblet i f..

Novo: Sanofi betaler 245 mio. dollar for forspring hos FDA

28-05-2015 12:04:35
Det franske medicinalselskab Sanofi har fået mulighed for at give kombinationsproduktet Lixilan en kortere behandlingstid hos den amerikanske lægemiddelstyrelse..

Aktier/middag: Små regnskaber i fokus på let positiv dag

28-05-2015 11:42:06
De danske aktier danser omkring udgangspunktet torsdag formiddag, hvor C20 Cap-indekset stiger med 0,1 pct. til 1027,24. Dermed holdes der fast i onsdagens pæne..

Mest læste nyheder

  • 24 timer
  • 48 timer
  • 1 uge
1
NNIT afskediger 15 medarbejdere i Danmark
2
Novo: Sanofi betaler 245 mio. dollar for forspring hos FDA
3
Torsdagens aktier: Grønt blev vendt til rødt af godt nøgletal
4
Danske vindmøller går som varmt brød i udlandet
5
Pandora: Amerikansk forhandler øger omsætningen markant

Relaterede aktiekurser

Pfizer Inc 34,44 0,4% Stigning i aktiekurs
Bristol-Myers Squibb Co 69,15 1,1% Stigning i aktiekurs
Astrazeneca PLC 68,90 0,2% Stigning i aktiekurs
Sanofi 50,55 -0,3% Fald i aktiekurs
Astrazeneca PLC ORD SHS .. 4.504,58 0,0% Aktiekurs uændret
Sanofi 92,27 0,0% Aktiekurs uændret
Pfizer 32,60 0,0% Aktiekurs uændret
AstraZeneca PLC 584,00 0,0% Aktiekurs uændret
Pfizer Incorporated COM .. 34,33 0,0% Aktiekurs uændret
Pfizer Inc 292,00 0,0% Aktiekurs uændret

Køb- og salgsanbefalinger

  • Trend
  • Pengemaskinen

Copyright Euroinvestor A/S 2015  Disclaimer Privatlivspolitik
Aktieinformation leveres af Interactive Data.
Data er forsinket 15-20 minutter iht. de enkelte børsers regler om videredistribution.
 
29. maj 2015 06:12:31
(UTC+01:00) Brussels, Copenhagen, Madrid, Paris
Version: ReleaseBuild_20150528.1 - EUROWEB7 - 2015-05-29 06:12:31 - 2015-05-29 06:12:31 - 1 - Website: OKAY

Når du besøger Euroinvestor.dk accepterer du, at der anvendes cookies, som vi og vores samarbejdspartnere benytter til funktionalitet, statistik og markedsføring. Læs mere om cookies på Euroinvestor.dk her

x