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Bristol-Myers Squibb



Bristol-Myers Squibb is a fortune 500 stock listed company trading under the symbol BMY. The Company has a good stock performance record.




 


The company was founded in 1887. It was formerly known as Bristol-Myers Company and changed its name to Bristol-Myers Squibb Company in 1989. Bristol-Myers is headquartered in the New York City. Bristol-Myers Squibb Company engages in the discovery, development, licensing, manufacture, marketing, distribution, and sale of pharmaceutical and other health care products in the United States and internationally. It operates in three segments: Pharmaceuticals, Nutritional and Other Healthcare.



 


Bristol-Myers Squibb Company reported financial results for the fourth quarter and twelve months ended December 31, 2005 and announced 2006 earnings guidance. Bristol-Myers Squibb posted fourth quarter 2005 net sales from continuing operations of 5.0 billion dollars, a decrease of 1 percent excluding a 2 percent unfavorable foreign exchange impact, compared to the fourth quarter of 2004. The company reported fourth quarter 2005 net earnings from continuing operations of 499 million dollars, or 0.26 dollar per diluted share, under U.S. Generally Accepted Accounting Principles (GAAP), compared to 139 million dollars, or 0.07 dollar per diluted share for the same period in 2004. On a non-GAAP basis excluding specified items, fourth quarter 2005 net earnings from continuing operations was 601 million dollars, or 0.31 dollar per diluted share, compared to 776 million dollars, or 0.39 per diluted share for the same period in 2004.



The company experienced declines in revenue during the quarter and twelve months ended December 31, 2005 as exclusivity losses among older pharmaceutical products were partially offset by sales from newer pharmaceutical growth drivers and increased sales in the Health Care Group. The company's expectations for future sales growth include increases that sales which had net sales of 3.8 billion dollars for 2005, and is currently the company's largest product ranked by net sales. The company also expects its 2006 fully-diluted earnings per share range to be between 1.15 and 1.25, dollars when adding back specified items.


The company pledges excellence in everything they make and market, providing the safest, most effective and highest-quality medicines and health care products. They promise to continually improve products through innovation, diligent research and development, and an unyielding commitment to be the very best. The company’s mission is to extend and enhance human life by providing the highest-quality pharmaceutical and related health care products.




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