A Look at Bristol-Myers Squibb’s Eliquis in 4Q17




Eliquis is one of Bristol-Myers Squibb’s (BMY) top-selling cardiovascular drugs. Developed in collaboration with Pfizer (PFE), it is a factor Xa inhibitor approved for the prevention of stroke in patients with non-valvular atrial fibrillation, and the prevention of venous thromboembolism disorders. In 4Q17, Eliquis reported revenue of $1.4 billion.

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The above chart shows Eliquis’s revenue over the last few quarters. Eliquis garnered revenue of ~$1.4 billion in 4Q17, marking ~44% growth from the $948 million seen in 4Q16. Of this total, ~$768 million was from US sales, while ~$595 million was from international sales. US revenue grew ~42% to $768 million in 4Q17 from ~$539 million in 4Q16, driven by strong demand. Its international revenue grew due to strong sales.

Eliquis revenue rose ~46% to ~$4.9 billion in 2017 from $3.3 billion in 2016. Of this total, ~$2.9 billion was from US sales, while ~$2.0 billion was from international sales. US sales rose ~47% to ~$2.9 billion from $2.0 billion in 2016.

Other factor Xa inhibitors include Johnson & Johnson’s (JNJ) Xarelto, Mylan’s (MYL) Arixtra, Daiichi-Sankyo’s Savaysa, and Portola Pharmaceuticals’ (PTLA) Bevyxxa. The PowerShares Dynamic Pharmaceuticals ETF (PJP) holds 5.0% of its portfolio in Bristol-Myers Squibb, 5.1% in Pfizer (PFE), and 2.7% in Mylan.


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