Bristol-Myers Squibb (NYSE: BMY ) reported mixed earnings for first quarter 2014 -- revenue declined by about 1% to $3.8 billion, as a decline in U.S. revenue of 10% was almost offset by a 10% lift in international revenue. Gross margin increased slightly to 75% from 72% last year, and marketing, selling, and administration expense declined to $960 million, helping drive an increase in adjusted EPS to $0.46.
That top line decline was due in part to Bristol's divestment of its half of a diabetes partnership with AstraZeneca (NYSE: AZN ) (Bristol sold it to Astra for $4.3 billion). Individual drug performance was good, with Baraclude up 11% and the oncology franchise helping drive growth as well.
There were several other important takeaways from the quarter which helped generate additional revenue growth -- in the video below, Motley Fool health care analysts Michael Douglass and David Williamson discuss the quarter and what to watch for moving forward.
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