Bristol-Myers Squibb

Bristol-Myers Squibb 4Q10

4Q Revenues: $5.1 billion (+2%)

4Q Earnings: $483 million (-94%)*

FY Revenues: $19.5 billion (+4%)

FY Earnings: $3.1 billion (-71%)*

Comments: U.S. sales rose 5% to $3.3 billion in 4Q10, while international sales dropped 5% to $1.8 billion (2% was due to currency exchange rates). 4Q10 Pharma sales were led by Plavix ($1.7 billion / +6%) and Abilify ($700 million / flat). The biggest gains were posted by Sprycel (+42% to $169 million), Baraclude (+25% to $264 million), and Orencia (+20% to $202 million). For the year, Plavix posted sales of $6.7 billion (+8%), while Abilify dropped slightly to $2.6 billion. Avapro/Avalide sales in 4Q10 were down 26% after a large-scale recall.

* Net earnings in 4Q09 and FY09 were boosted by $7.2 billion after-tax gain from spin-off of Mead Johnson Nutrition Co.