If uncertainties in the credit and capital markets continue, these markets deteriorate further or the company experiences any additional ratings downgrades on any investments in its portfolio (including on ARS), the company may incur additional impairments to its investment portfolio, which could negatively affect the company's financial condition, cash flow and reported earnings. The company believes that based on the company's current cash, cash equivalents and marketable securities balances of $2.2 billion at December 31, 2007 and expected operating cash flows, the current lack of liquidity in the credit and capital markets will not have a material impact on the company's liquidity, cash flow, financial flexibility or its ability to fund its operations, including the dividend.
For information on specified items, see Appendix 2. Details reconciling these non-GAAP amounts with GAAP amounts including specified items are provided in Appendix 1 attached and in supplemental materials available on the company's website.
Worldwide pharmaceutical sales increased 39% to $4.4 billion in the fourth quarter of 2007, including a 5% favorable foreign exchange impact, compared to the same period in 2006.
U.S. pharmaceutical sales increased 65% to $2.5 billion in the fourth quarter of 2007 compared to the same period in 2006, primarily due to increased PLAVIX(R) sales, as well as the continued growth of ABILIFY(R), REYATAZ(R), the SUSTIVA(R) Franchise and ERBITUX(R), and sales of newer products ORENCIA(R), BARACLUDE(R), SPRYCEL(TM) and IXEMPRA(TM).
International pharmaceutical sales increased 16%, including a 10%
|SOURCE Bristol-Myers Squibb Company|
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