Patent losses stalk BMS, AZ quarterly results

Quarterly results for Bristol Myers-Squibb and AstraZeneca show patent losses continue to roil the balance sheets.

Generic Plavix trimmed sales for BMS's quarter, which fell 27%, to $4 billion, compared to the same period last year, largely due to generic versions of cardio drugs Plavix and Avapro. US sales plummeted 44% during the quarter while international sales rose 6% vs. the year-ago period. The major growth story in percentages was for melanoma drug Yervoy, which posted $229 million in Q1 sales, a 49% increase over the same period last year, while diabetes medication Onglyza brought in sales of $202 million, a 25% increase over Q1 2012.

Some of the same dynamics were at play for AstraZeneca, which closed the first quarter of the year with a 13% slide in sales, to $4 billion, compared to $7 billion for the same period last year. Generic forms of mood drug Seroquel IR and heart pill Atacand were behind the shrinkage, as was Canada's move to unleash a generic knockoff of the statin Crestor. US sales dropped 16%, largely due to generic Seroquel competition, and sales for the Seroquel franchise, which includes Seroquel IR and Seroquel, were down 60% vs. the same period last year. A multi-phase restructuring helped shrink the company's R&D spend to $1.3 billion, a 6% drop from the year-ago  period. SG&A costs fell to $2.6 billion, 3% less than was spent for the prior-year period.

The respiratory division saw growth with Symbicort sales rising 14% over the same period last year, and Pulmicort rising 3% quarter-on-quarter, while oncology drug Irissa led the category, with sales rising 20% over the same period last year.
You must be a registered member of MMM to post a comment.

Did you miss January's Top 40 Healthcare Transformers issue? Read how these inventors, strategists, entrepreneurs and wonks are challenging, disrupting and otherwise transforming the healthcare business. And join us April 30 to honor them at the Transforming Healthcare Dinner. Click here.