BMY announced strong Q2 earnings, with net income up 29% and revenues up 5% from Q2 08. The company also announced its intention to buy Medarex for $2.1B
BMY's Q1 2009 was below expectations, with sales only climbing 3.5% to $5B and net income falling 5% to $631 million.
Previously, there was no mechanism for generic biologic drugs to be approved - which meant companies like BMY don't face generic competition. But Obama's budget proposes to change that.
Previously, there was no mechanism for generic biologic drugs to be approved - which meant companies like Amgen don't face generic competition. But Obama's budget proposes to change that.
Bristol-Myers Squibb's third-quarter profit in 2007 doubled from $338 million to $858 million. Revenue increased by 22 percent to $5.05 billion, from $4.15 billion during this period last year. Stock prices rose 94 cents to $29.36.
BMY announces 2007:1Q earnings that show signs of strong recovery from the Plavix debacle of 2006
Stock price drops after talks about a possible acquisition by partner Sanofi-Aventis fall through.
Stock reaches a year-high price of nearly $29 on news of friendly takeover talks between BMY and Sanofi-Aventis, feuled by the recent appointment of James Cornelius (engineer of the Boston Scientific Guidant takeover) as CEO
