B-MS up on strong sales of Glucophage

Bristol-Myers Squibb has reported a net income rise of 15% to $1.09billion for second-quarter 2000 on turnover of $5.28 billion, an increase of 7%. Pharmaceutical sales climbed 11% to $3.5 billion, reflecting a leap of 18% in domestic revenues compared with the year earlier.

The company noted that growth was driven by the antidiabetic Glucophage (metformin), sales of which rose 39% to $485 million, while the anticancer agent Taxol (paclitaxel) was up 14% to $413 million. Sales of the cardiovascular drugs Plavix (clopidogrel) and Avapro (irbesartan), sold in tandem with Sanofi-Synthelabo, increased 73% to $222 million and 42% to $91 million respectively.

There was also good news for B-MS' lipid-lowerer Pravachol (pravastatin), which rose 7% to $407 million, despite strong competition from Pfizer/Warner-Lambert's Lipitor (atorvastatin). Other treatments that performed well included Buspar (buspirone) and Serzone (nefazodone), which rose 47% to $194 million and 11% to $93 million, respectively. Sales of its antiretroviral Zerit (stavudine) moved up 9% to $165 million.