Boston, MA 10/24/2013 (wallstreetpr) – The New York based BioPharma company Bristol-Myers Squibb Co (NYSE:BMY) posted its Q3 results of this fiscal year. The results were in sync with happy tunes revealing a 9% increase in sales that resulted in $4.1 billion. Its profits of $692 million were more than what the trade analysts had estimated. The EPS value provided by the company is $0.46 per share as compared to last year’s $0.41.
Trend setting drugs namely Yervoy, Orencia and Sprycel had achieved humongous success in the market for its innovative treatment method in oncology and other related fields. In fact all these drugs had achieved double digit growth in the third quarter. Being the $4 billion research company, Bristol-Myers has also had its own share of rejections in the licensing section. Plavix and BP drugs, Avapro and Avalide, anti-psychotic drug, Abilify are the drugs whose sales fell by a drastic margin and the company lost about $569 million.
New initiatives going on in the company
Along with the Q3 figures the company also presented new clinical data for immune-oncology which is still in the pipeline and other data substantiating the worthiness of the cardiovascular treating drug Onglyza. Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb, mentioned that the Q3 results of the company had established a strong foundation for by presenting new clinical data in the diabetes and oncology divisions and is further focused on investing in useful, innovative drugs that would steer the company in the direction of growth.
Jail term for ex-employee mars Q3 results
Incidentally, a former employee of the company Robert Ramnarine was awarded jail term of one year and one day after he was arrested for insider trading in August 2012. Ahead of an acquisition of Amylin Pharmaceuticals Inc. by Bristol-Myers, he traded in Amylin’s stock and other acquisition targets of Bristol-Myers, thus gaining around $311k.
