News Headlines Article

Bristol-Myers profit falls but sales jump 14 pct
San Francisco Chronicle

Drugmaker Bristol-Myers Squibb Co. said Thursday that its second-quarter profit fell nearly 3 percent due to higher taxes and increased overhead, which was partly offset by a 14 percent jump in sales.

The company, which sells blockbuster blood thinner Plavix, still beat Wall Street expectations, and it increased its earnings-per-share forecast for 2011 by 8 to 10 cents, driving shares up more than 2 percent at one point.