BMY beats Street EPS

Bristol-Myers (BMY) posted third quarter non-GAAP EPS of $0.44, beating by $0.05 the Street estimate of $0.39, but down 8% from the $0.48 posted in the same period last year. Net earnings fell 16% quarter over quarter to $758 million from $906 million. Quarterly net sales increased 1% to $5.4 billion; however, sales in the U.S. were off 2% to $2.1 billion due in part to increased competition for cancer drug Paraplatin and cholesterol drug Pravachol pravastatin, as well as the loss of patent exclusivitiy for Type II diabetes therapeutic Glucophage XR. Quarter over quarter worldwide pharmaceutical sales remained constant at $3.8 billion. ...