Let me join the masses in pointing out that Bristol-Myers Squibb's
Okay? Can we move on now?
The joy of drug makers, especially large ones like Bristol, is that the large revenue declines are almost always foreseeable. The drug went off patent; of course sales were going to decline.
It's Bristol's future that investors should be worried about and, for the most part, the prospects look pretty good. Excluding the declines of Plavix and Avapro/Avalide, which also saw a patent expiration in the last year, Bristol's sales increased 8%.
Cancer drugs Yervoy and Sprycel led the charge, with year-over-year increases of 71% and 26%, respectively. After a slow start, Onglyza and its related combo diabetes treatment, Kombiglyze, are picking up steam, with combined sales of $172 million, up 54% from the year ago period. That's nowhere near the level of Merck's
Bristol sells the diabetes drugs with AstraZeneca
Looking forward, Bristol has Eliquis, which it will market with Pfizer
I think Bristol will be just fine after the media stops worrying about the sales decline of that drug. What was its name again?
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Fool contributor Brian Orelli holds no position in any company mentioned. Click here to see his holdings and a short bio. Motley Fool newsletter services have recommended buying shares of Pfizer. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
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