Bristol-Myers Squibb Company (NYSE: BMY) announced first quarter results that included double-digit earnings growth and important R&D milestones in its metabolics and hepatitis C (HCV) franchises. The Company also confirmed guidance for 2012.
"This first quarter performance continues to demonstrate our ability to balance delivering strong financial results in the short-term with positioning the Company for long-term success," said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. "We reported good financial performance at both the top and bottom lines, a positive opinion in Europe on FORXIGA for the treatment of type 2 diabetes and the presentation of important new clinical data from the Company's HCV franchise," Andreotti said.
Bristol-Myers Squibb's global sales growth in the first quarter was led by, YERVOY®, which had sales of $154 million in the quarter, ONGLYZA®/KOMBIGLYZE® which grew 99%, SPRYCEL® which grew 34%, ORENCIA® which grew 28% and BARACLUDE® which grew 18%.
Bristol-Myers Squibb is confirming its 2012 GAAP and non-GAAP EPS guidance range of $1.90 to $2.00. Key 2012 non-GAAP guidance assumptions remain unchanged. The non-GAAP guidance excludes specified items as discussed under "Use of Non-GAAP Financial Information." Details reconciling adjusted non-GAAP amounts with the amounts reflected in specified items are provided in supplemental materials available on the Company's website.
The financial guidance for 2012 excludes the impact of any potential strategic acquisitions and divestitures, and any specified items that have not yet been identified and quantified.
About Bristol-Myers Squibb
Bristol-Myers Squibb is a global biopharmaceutical company whose mission is to discover, develop and deliver innovative medicines that help patients prevail over serious diseases.