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Thursday, July 24, 2014

Bristol-Myers profit tops forecasts, helped by newer drugs, (NYSE: PFE)

Bristol-Myers Squibb Co reported better-than-expected quarterly results, helped by cost controls and strong sales of its Eliquis blood clot preventer and Yervoy treatment for melanoma.Sales of Eliquis, which Bristol-Myers co-markets with Pfizer Inc, rose to $171 million. The pill, used to prevent strokes in patients with an irregular heartbeat called atrial fibrillation, has had disappointing sales since it was approved in late 2012, but has picked up steam in recent months.Yervoy sales jumped 38 percent to $321 million.Company revenue slipped 4 percent to $3.90 billion, but topped Wall Street expectations of $3.85 billion. Revenue would have risen 7 percent if Bristol-Meyers had not earlier this year sold its global diabetes business to longtime partner AstraZeneca.

Pfizer Inc. (Pfizer) is a research-based, global biopharmaceutical company. Shares of PFE fell by 0.06% or $-0.017/share to $30.37. In the past year, the shares have traded as low as $27.76 and as high as $32.96. On average, 27291000 shares of PFE exchange hands on a given day and today's volume is recorded at 8293909.