On Jan. 25, pharmaceutical giant Bristol-Myers Squibb
- Net revenues declined by 16.1%, primarily due to a glut of generic Plavix inventory flooding the market and the loss of patent protection for Pravachol.
- For 2007, the company expects reductions in net sales for products that have lost exclusivity in previous years to moderate to between $900 million and $1 billion, compared to $1.4 billion in 2006 and $1.3 billion in 2005.
- Plavix may face generic competition from Apotex if Apotex wins a decision in an ongoing trial.
- In November 2006, the company received European Medicine Evaluation Agency approval of Sprycel for the treatment of chronic myeloid leukemia.
- The company expects its 2007 EPS to be in the $1.12-$1.22 range.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Q4 2006 |
Q4 2005 |
Change |
|
|---|---|---|---|
|
Sales |
$4,213 |
$5,019 |
(16.1%) |
|
Net Profit |
($134) |
$499 |
N/A |
|
EPS |
($0.07) |
$0.26 |
N/A |
|
Diluted Shares |
1,961 |
1,983 |
(1.1%) |
Get back to basics with a look at the income statement.
Margin Checkup
|
Q4 2006 |
Q4 2005 |
Change* |
|
|---|---|---|---|
|
Gross Margin |
65.7% |
68.2% |
(2.6) |
|
Operating Margin |
(6.8%) |
16.6% |
(23.3) |
|
Net Margin |
(3.2%) |
9.9% |
(13.1) |
Margins are the earnings engine. See how they work.
Balance Sheet Highlights
|
Assets |
Q4 2006 |
Q4 2005 |
Change |
|---|---|---|---|
|
Cash + ST Invest. |
$4,013 |
$5,799 |
(30.8%) |
|
Accounts Rec. |
$3,247 |
$3,378 |
(3.9%) |
|
Inventory |
No Data |
$2,060 |
N/A |
Learn the ways of the balance sheet.
Cash Flow Highlights
A cash flow statement was not provided. Boo!
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Related Companies:
-
GlaxoSmithKline
(NYSE:GSK) -
Novartis
(NYSE:NVS) -
AstraZeneca
(NYSE:AZN) -
Merck
(NYSE:MRK) -
Eli Lilly
(NYSE:LLY)
Related Foolishness:
GlaxoSmithKline and Eli Lilly are Motley Fool Income Investor recommendations. You can find out why with a 30-day free trial of the newsletter. Merck is a former Income Investor pick.
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