Bristol-Myers Squibb Co. says it expects a profit of at least $1.95 per share in 2013, the first full year after its big-selling blood thinner Plavix faces generic competition in the U.S.
The forecast was a bit better than analysts expected for the company, which is seen as having the most to lose of any top drugmaker due to impending patent expirations.
On average, analysts surveyed by Thomson Reuters expect Bristol-Myers to earn $1.86 per share in 2013, with estimates ranging from $1.55 to $2.13 per share.
Bristol-Myers got almost a third of its 2009 revenue from sales of Plavix — $6.15 billion out of a total of $18.81 billion. Plavix is the second best selling prescription drug in the world. (AP)
