Company news: BMS goes over the patent cliff

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Sales of Bristol-Myers Squibb's Plavix plunged 96% in the third quarter over the same period last year, contributing mightily to an overall 30% drop in sales of the company's products for the quarter, to $3.7 billion. BMS's patent cliff woes include Avapro and Avalide as well, and the company saw its HCV candidate, BMS-986094, fail. CEO Lamberto Andreotti put a brave face on it, conceding a "challenging" quarter but touting the finalization of the company's Amylin acquisition and saying: “We remain strong and well-positioned for future success as demonstrated by the achievement of regulatory milestones for Eliquis and Orencia, the presentation of long-term survival data for Yervoy, the completion of our acquisition of Amylin, and the performance of our key brands.”
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