Volume Growth Boosts B-MS' First Quarter

1 of3For the first time in Bristol-Myers Squibb's history, quarterly pretax earnings exceeded $1 billion. 1996 first-quarter earnings amounted to $1.02 billion, up 10%. Net income was $726 million, up 11%, with earnings per share growing 12% to $1.44.

Group sales for the 1996 first quarter were $3.7 million, up 11%. Pharmaceutical turnover advanced 14%, driven by growth in both the USA and international markets. Sales of the cholesterol-lowering agent Pravachol (pravastatin) increased 47% to $255 million, the firm said, benefiting from a number of clinical studies. Sales of other products identified as high-growth products by B-MS are as follows:

Product Sales % Change -------------------------------------------------------------------------- Taxol (paclitaxel) $200 million +59 Enfamil (infant formula) $160 million +26 BuSpar (buspirone) $100 million +37 Glucophage (metformin) $65 million * Monopril (fosinopril) $60 million +55 Efferalgan (paracetamol plus vitamin C) $40 million +45 Stadol NS (butorphanol) $30 million +33 Herbal Essences $25 million +97 Videx (didanosine) $25 million +76 -------------------------------------------------------------------------- * Introduced in April 1995