Bristol-Myers Squibb Company (NYSE:BMY) reported its results for the fourth quarter. Net income for Bristol-Myers Squibb Company rose to $852 million (50 cents per share) vs. $483 million (28 cents per share) in the same quarter a year earlier. This marks a rise of 76.4% from the year earlier quarter. Revenue rose 6.7% to $5.45 billion from the year earlier quarter. BMY reported adjusted net income of 53 cents per share. By that measure, the company fell short of mean estimate of 55 cents per share. Analysts were expecting revenue of $5.51 billion.
“In the fourth quarter, we delivered solid financial results, concluding a very good year that sets the foundation for the long-term growth of the company,” said Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb. “Our delivery of several important new products to patients, the ability of our productive R&D organization to build an innovative and diverse pipeline, and our continued commitment to business development gives us confidence in our future.”
Competitors to Watch: Pfizer Inc. (NYSE:PFE), Merck & Co., Inc. (NYSE:MRK), Eli Lilly & Co. (NYSE:LLY), Sanofi-Aventis SA (NYSE:SNY), Abbott Laboratories (NYSE:ABT), Novartis AG (NYSE:NVS), Johnson & Johnson (NYSE:JNJ), GlaxoSmithKline plc (NYSE:GSK), and AstraZeneca plc (NYSE:AZN).
Baxter International Inc (NYSE:BAX) reported its results for the fourth quarter. Net income for Baxter International Inc rose to $463 million (82 cents per share) vs. $423 million (72 cents per share) in the same quarter a year earlier. This marks a rise of 9.5% from the year earlier quarter. Revenue r2.7% to $3.59 billion from the year earlier quarter. BAX fell short of the mean analyst estimate of $1.16 per share. Analysts were expecting revenue of $3.58 billion.
“2011 was a very successful year for Baxter as we continue to fulfill our mission of providing innovative life-saving and life-sustaining therapies that advance patient care worldwide,” said Robert L. Parkinson, Jr., chairman and chief executive officer. “I’m pleased that despite a challenging, global macro-economic environment, our company delivered strong financial and operational performance, while accelerating investments in innovation, advancing our new product pipeline and pursuing other initiatives to enhance long-term growth, while returning significant value to our shareholders.”
Competitors to Watch: Covidien plc (NYSE:COV), C.R. Bard, Inc. (NYSE:BCR), ICU Medical, Incorporated (NASDAQ:ICUI), Teleflex Incorporated (NYSE:TFX), Hospira, Inc. (NYSE:HSP), CryoLife, Inc. (NYSE:CRY), Becton, Dickinson and Co. (NYSE:BDX), CareFusion Corporation (NYSE:CFN), Haemonetics Corporation (NYSE:HAE), and NxStage Medical, Inc. (NASDAQ:NXTM).
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