4th-qtr 2005 sales drop 1% for B-MS, as patents lost

US health care conglomerate Bristol-Myers Squibb has posted fourth-quarter 2005 net sales from continuing operations of $5.0 billion, a 1% drop on the like, year-ago period, as exclusivity losses among older drugs were incompletely offset by turnover from newer growth drivers and greater sales in its Health Care group.

Net earnings totalled $499.0 million, or $0.26 per diluted share, under US Generally-Accepted Accounting Principles, versus $139.0 million, or $0.07 per diluted share, in fourth-quarter 2004. On a non-GAAP basis, excluding specified items, earnings totaled $601.0 million, or $0.31 per diluted share.

Worldwide pharmaceutical sales fell 3% to $4.0 billion, with a 1% drop in domestic revenue, to $2.2 billion, due to an increase in wholesaler inventory levels in fourth-quarter 2004 and greater competition facing its cholesterol-lowering drug Pravachol (pravastatin).