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• | Increases Third Quarter Revenues 8% to $5.7 Billion |
• | Posts Third Quarter GAAP EPS of $1.16 and Non-GAAP EPS of $1.09 |
• | Presents Important New Clinical Data on Novel, Oral, Selective TYK2 Inhibitor for Potential Treatment of Patients with Moderate to Severe Plaque Psoriasis |
• | Additional Opdivo Approvals Including for Adjuvant Treatment of Adult Patients with Melanoma in the European Union |
• | Updates on Ongoing Regulatory Review of Opdivo Plus Low-Dose Yervoy in First-Line Lung Cancer |
• | Updates 2018 GAAP and Non-GAAP EPS Guidance |
Third Quarter | ||||||||||
$ amounts in millions, except per share amounts | ||||||||||
2018 | 2017 | Change | ||||||||
Total Revenues | $ | 5,691 | $ | 5,254 | 8 | % | ||||
GAAP Diluted EPS | 1.16 | 0.51 | ** | |||||||
Non-GAAP Diluted EPS | 1.09 | 0.75 | 45 | % |
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Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were removed , added and changed by Bristol Myers Squibb Co.
Bristol Myers Squibb Co's Definitive Proxy Statement (Form DEF 14A) filed after their 2018 10-K Annual Report includes:
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Higher net sales and maturities of marketable securities with maturities greater than 90 days of approximately $500 million primarily due to higher yields on cash and cash equivalents and to fund business development activities and
Similar charges or gains were recognized in prior periods and will likely reoccur in future periods including restructuring costs accelerated depreciation and impairment of property, plant and equipment and intangible assets R&D charges in connection with the acquisition or licensing of third-party intellectual property rights divestiture, equity investment and debt redemption gains or losses pension settlement charges and legal and other contractual settlements, among other items.
Marketing, selling and administrative expenses decreased in both periods due to lower advertising, promotion, and marketing expenses, lower branded prescription drug fee, and lower costs attributed to transformation initiatives.
These statements are likely to relate to, among other things, our goals, plans and projections regarding our financial position, results of operations, cash flows, market position, product development, product approvals, sales efforts, expenses, performance or results of current and anticipated products and the outcome of contingencies such as legal proceedings and financial results, which are based on current expectations that involve inherent risks and uncertainties, including internal or external factors that could delay, divert or change any of them in the next several years.
Cost of products sold increased in both periods due to higher royalties and profit sharing $208 million and $703 million in the three and nine months ended September 30, 2018, respectively resulting primarily from higher Eliquis sales partially offset by a $70 million charge resulting from lower expected HCV demand in the third quarter of 2017, a $127 million impairment charge to reduce the carrying value of assets held-for-sale to their estimated fair value in the second quarter of 2017, and lower product costs partially due to foreign currency.
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Financial Statements, Disclosures and Schedules
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Material Contracts, Statements, Certifications & more
Bristol Myers Squibb Co provided additional information to their SEC Filing as exhibits
Ticker: BMY
CIK: 14272
Form Type: 10-Q Quarterly Report
Accession Number: 0000014272-18-000197
Submitted to the SEC: Thu Oct 25 2018 11:36:04 AM EST
Accepted by the SEC: Thu Oct 25 2018
Period: Sunday, September 30, 2018
Industry: Pharmaceutical Preparations