Bristol-Myers Squibb hails ‘excellent’ performance in second quarter

Bristol-Myers Squibb has highlighted its strong growth in the second quarter of 2011, during which it achieved a number of clinical and financial goals.

The company's net sales rose by 14 percent year over year to $5.4 billion (3.3 billion pounds), driven primarily by the performance of Plavix, Onglyza and the recently launched Kombiglyze and Yervoy.

During the period, the firm was able to secure a number of important regulatory decisions, such as the approval of the Pfizer co-developed Eliquis as a venous thromboembolism treatment in Europe, as well as Nujolix in the US.

Meanwhile, positive data from phase III studies of various new oncology and diabetes compounds were presented, including results that show Eliquis' efficacy for stroke prevention in patients with atrial fibrillation.

Lamberto Andreotti, chief executive officer of Bristol-Myers Squibb, said: "I am proud of this organisation and our strong second quarter results across the board – financially, clinically and operationally."

This comes after the company announced plans to acquire Amira Pharmaceuticals last week, a move that will allow it to enter the fibrotic diseases market for the first time.