Bristol-Myers Squibb (BMY) Sees non-Cash, Pretax Charges of $150M to $200M on Erbitux Deal
Get Alerts BMY Hot Sheet
Price: $48.78 -0.43%
EPS Growth %: -318.0%
Financial Fact:
Provision for income taxes: 344M
Today's EPS Names:
RUSHA, SEIC, OSBC, More
EPS Growth %: -318.0%
Financial Fact:
Provision for income taxes: 344M
Today's EPS Names:
RUSHA, SEIC, OSBC, More
Join SI Premium – FREE
On April 16, 2015, Bristol-Myers Squibb (NYSE: BMY) and Eli Lilly and Company (NYSE: LLY) issued a joint press release announcing that the companies have agreed to transfer all rights of Erbitux (cetuximab) in North America from the Company to Lilly. The transaction is expected to result in a non-cash pre-tax charge of approximately $150 million to $200 million during 2015, which will be a specified item. Royalties are expected to be accounted for as other income. The transaction is not expected to have a significant impact on our non-GAAP earnings.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Amphenol (APH) Tops Q1 EPS by 7c, offers guidance
- Capitol Federal Financial (CFFN) Misses Q2 EPS by 1c
- PROG Holdings Inc (PRG) Tops Q1 EPS by 9c
Create E-mail Alert Related Categories
Corporate News, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!