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Bristol-Myers Squibb Company Reports Financial Results for the Fourth Quarter and Twelve Months of 2007
Date:1/31/2008

adjunctive, or add-on, treatment to antidepressant therapy (ADT) in adults with major depressive disorder (MDD). ABILIFY(R) is the first medication approved by the FDA as add-on treatment for MDD. The FDA also approved ABILIFY(R) for the treatment of schizophrenia in adolescent patients (ages 13-17) and accepted for Priority Review the supplemental New Drug Application (sNDA) for the treatment of pediatric patients (ages 10-17) with Bipolar I Disorder.

In November, the FDA approved new labeling for SPRYCEL(TM) to include a lower recommended starting dose of 100 mg once daily and safety and efficacy data in a greater number of patients with chronic-phase chronic myeloid leukemia (CML) resistant or intolerant to prior therapy including GLEEVEC(R) (imatinib mesylate). The previous recommending starting dose was 70 mg twice daily.

In October, the company launched IXEMPRA(TM) (ixabepilone), for the treatment of patients with metastatic or locally advanced breast cancer, in the U.S. In addition, the Japanese New Drug Application for ixabepilone was submitted in December, and the Marketing Authorization Application for ixabepilone is under review by the European Medicines Evaluation Agency following submission in September.

PRODUCTIVITY TRANSFORMATION INITIATIVE

The company undertook a broad range of actions in the fourth quarter as part of the previously announced, three-year Productivity Transformation Initiative, which is reducing costs, streamlining operations and rationalizing global manufacturing. The initiative, which is on track to achieve $1.5 billion in cost savings and cost avoidance by 2010, is central to the company's strategy to become a more nimble and flexible Next Generation BioPharma enterprise. In line with the previously announced guidance, the company recorded a $292 million charge in the fourth quarter in connection with the initiative. Among the many productivity activities across the entire company this quarter, the comp
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SOURCE Bristol-Myers Squibb Company
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