BMS revenue drops in 2013
pharmafile | January 27, 2014 | News story | Sales and Marketing | AZ, BMS, Yervoy, diabetes, hep C, q4
Bristol-Myers’ Squibb’s revenue has fallen 7% year-on-year to $16.4 billion during 2013.
Turnover rose 6% to $4.4 billion in the fourth quarter of the year – ahead of analysts’ estimates – but taking the 12 months in total it dropped well below the $17.6 billion seen during 2012.
“In the fourth quarter we continued to grow and evolve our business, delivering solid financial results and achieving regulatory milestones for products that are important to our long-term success,” said BMS chief executive Lamberto Andreotti.
The big news from Q4 was that AstraZeneca will buy out BMS’s stake in their diabetes alliance in a potential $4.3 billion deal, paying an initial $2.7 billion and up to $1.4 billion in regulatory, launch and sales-related payments.
The Anglo-Swedish firm has also agreed to pay various sales-related royalties to BMS until 2025, and may also make payments up to $225 million when certain assets are transferred.
“We are looking forward to 2014 as an important year to advance our specialty care biopharma model and deliver on key opportunities in immuno-oncology and hepatitis C that will position us well for long-term growth,” Andreotti added.
BMS grew its US revenue just 1% to $2.3 billion in the quarter – with money from international operations increasing 11% to $2.2 billion.
Spending on R&D fell 12% year-on-year to $957 million. HIV medicine Sustiva brought in $427 million in Q4, a year-on-year rise of 11 per cent.
Sales of rheumatoid arthritis treatment Orencia rose 22% to $397 million – although anti-psychotic Abilify fell by the same margin to $635 million in the quarter, and by 19% to $2.3 billion over the year in total.
Cancer drug Erbitux saw a 1% dip in sales during 2013, but the oncology portfolio performed strongly, with Sprycel sales rising 26% to $1 billion and Yervoy up 36% to $706 million.
Adam Hill
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