On Jan. 25, pharmaceutical giant Bristol-Myers Squibb (NYSE:BMY) released fourth-quarter earnings for the period ended Dec. 31, 2006.

  • 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)

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Balance Sheet Highlights


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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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