30. January 2012 13:25
Bristol-Myers Squibb saw net sales increase 7% to $5.5 billion in the final quarter of 2011, and record annual sales up 9% to $21.2bn.
Sales in the US increased 8% to $3.6bn with international sales also up by 4% after Onglyza, Sprycel, Orencia and Baraclude all saw revenue increase in the quarter.
Lamberto Andreotti, Chief Executive Officer, BMS, said the “solid financial results” conclude a “very good year” for the New York-based biopharmaceutical company.
But the company expects global sales in 2012 to fall to between $17.2bn and $18.2bn after the exclusivity of Avapro expires in March and Plavix expires in May.
In the final quarter of 2011, gross margin as a percentage of net sales improved by nearly three-quarters (74.9%). R&D costs remained flat at a $1bn with marketing, selling and administrative functions also slightly over a billion pound. Advertising and product promotion increased slightly in Q4 to $285m.
Global sales between October and December were led by Onglyza – which saw sales increase in the quarter by 110%. Sprycel saw sales rise by 34%, Orencia by 27% and Baraclude by a fifth. Skin cancer treatment Yervoy also generated sales of $144m.
The year concluded with BMS receiving approval for Yervoy and for kidney transplant drug Nulojix in the US and Europe, and for Eliquis in Europe for the prevention of venous thromboembolic events.
“Our delivery of several important new products to patients, the ability of our productive R&D organisation to build an innovative and diverse pipeline, and our continued commitment to business development gives us confidence in our future,” said Lamberto Andreotti.