BMS posts better-than-expected Q3 results

Bristol-Myers-Squibb has announced better-than-expected third quarter financial results – net sales totaled $4.1 billion; an increase of 9% compared to the third quarter of 2012. This was largely fuelled by the strong performance of key marketed products such as melanoma drug, Yervoy (ipilimumab), rheumatoid arthritis treatment Orencia (abatacept) and cancer drug Spyvel (dasatinib).

Also, important clinical trial data regarding its immune-oncology pipeline and key cardiovascular outcomes data for type 2 diabetes treatment Onglyza (saxagliptin) was presented in this quarter, attributing to the company's positive results.

"In the third quarter, we demonstrated solid financial performance and presented new clinical data further characterizing key brands from our immuno-oncology and diabetes franchises. As we continue to execute against our strategy today, we remain focused on investing in the meaningful opportunities that will drive the long-term growth of our company."

Lamberto Andreotti, chief executive officer, Bristol-Myers Squibb (BMS).

BMS has confirmed its 2013 GAAP EPS guidance range of $1.41 to $1.49 and its 2013 non-GAAP EPS Guidance Range of $1.70 to $1.78.