Bristol-Myers Squibb Company has suffered heavy setback during the year ended December 2010 and its net profit declined sharply by 71 per cent to $3,102 million from $10,612 million in the previous year. Excluding provision of net earnings from discontinued operations of $7,412 million in the year 2009, its earnings improved by 2.1 per cent to $4,513 million from $4,420 million. Its net sales increased to $19,484 million from $18,808 million.

Its total US sales increased to $12,613 million from $11,867 million, a growth of 6.3 per cent. Its worldwide sales of Plavix increased by 8 per cent to $6,666 million from $6,146 million in the year 2009 and the same in US went up by 11 per cent to $6,115 million. Similarly, its sales of Reyataz moved up by 6 per cent to $1,479 million from $1,401 million. The sales of Avapro/Avalide declined by 8 per cent to $1,176 million from $1,283 million.

The company's sales during the fourth quarter ended December 2010 increased by 1.6 per cent to $5,111 million. However, its net profit declined to $483 million from $8,025 million basically due to gain shown of $7,207 million regarding net earnings from discontinued operations.

“In the fourth quarter, we delivered solid financial results, concluding a very good year for the company,” said , Lamberto Andreotti chief executive officer, Bristol-Myers Squibb. “The performance in the quarter is reflective of a year in which robust clinical data, targeted execution of our String of Pearls strategy, and key regulatory submissions provided further proof of our ability to build one of the most innovative pipelines in the industry.”

“In 2011 we will build on the momentum created in 2010. We anticipate several key pipeline events that will help shape our future as we continue to position our company for long-term success as a focused, differentiated BioPharma company,” Andreotti said.