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Financial Report: BMS 3Q

Patent expiries demolish revenues, Ph III cancellation pummels earnings

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By: Tim Wright

Editor-in-Chief, Contract Pharma

BMS 3Q Revenues: $3.7 billion (-30%) 3Q Loss: $711 million (earnings were $969 million in 3Q11) YTD Revenues: $13.4 billion (-15%) YTD Earnings: $1.0 billion (earnings were $2.9 billion YTD11) Comments: Revenues were impacted heavily by the U.S. patent expirations for Avapro/Avalide (down 56% to $95 million) and Plavix (down 96% to $64 million). U.S. sales decreased 43% to $2.0 billion in the quarter. International sales decreased 6% to $1.8 billion. Orencia sales were up 32% to $307 millio...

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