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Bristol-Myers Squibb Posts USD 3.9 billion Revenues in 2014 Second Quarter

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Published on : Jul 30, 2014

Leading bio-pharmaceutical company Bristol-Myers Squibb has registered revenues of USD 3.9 billion in the 2014 second quarter. This marks a 4% decrease from the same period in 2013. The global revenues of the company (excluding the divested Diabetes Alliance), saw a 7% increase.

In this quarter, the company’s results were underlined by steady global sales of nearly each of its key brands. The company also reached a critical regulatory milestone in the United States, Europe and Japan. Other highlights include a strategic collaboration agreement in the immune-oncology area with Ono Pharmaceutical Co., Ltd., as well as a number of other new research collaborations. The company expects that all these steps will contribute towards strengthening its position in the immune-oncology field.

The company also reported a 7% dip in its revenues in the U.S., which fell to USD 1.9 billion in the second quarter of 2014. International sales declined by 1%, reaching USD 2.0 billion. Furthermore, the company’s expenses towards selling, marketing, and administrative activities took a 9% hit, reaching USD 951 million in 2014’s second quarter. A similar trend was observed in the company’s spending on product promotion and advertising, which slid down to USD 184 million, marking a 14% decline. 

The company’s focus on research and development is evident, as expenses on this business area showed a healthy 49% increase to USD 1.4 billion during this period. These expenses also comprised acquisition and impairment-related charges amounting to USD 458 million.

Bristol-Myers Squibb CRO Lamberto Andreotti said that the company has delivered strong operating and financial results in the second quarter of 2014 by investing aggressively in key opportunities for business development, besides achieving important regulatory milestones. 

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