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BRISTOL-MYERS SQUIBB REPORTS RESULTS

 NEW YORK, April 21 /PRNewswire/ -- Bristol-Myers Squibb Company (NYSE: BMY) reported increased sales and earnings for the first quarter ended March 31, 1993.
 Sales increased 4 percent to $2.8 billion. Excluding the unfavorable effect of exchange rate fluctuations, sales were 6 percent above prior year levels. Domestic sales were particularly strong, increasing 7 percent, and international sales increased 1 percent (6 percent excluding the unfavorable effect of exchange rate fluctuations).
 Earnings from continuing operations for the quarter were $575 million, or $1.11 per share, reflecting an 8 percent increase over the prior year.
 During the quarter, two U.S. Food and Drug Administration (FDA) advisory committees separately recommended approval for new indications for two of the company's existing therapies: Capoten, for use in improving survival in clinically stable patients following myocardial infarction with left ventricular dysfunction, based on the results of the five-year-long Survival And Ventricular Enlargement (SAVE) trial -- and for Megace, an anti-cancer agent, for the treatment of anorexia, cachexia or substantial weight loss in patients with advanced HIV disease. In early April, the OTC Drugs Advisory Committee of the FDA recommended that the FDA grant Category I status for caffeine -- a key ingredient of Excedrin. The recommendation was based on data that shows that an OTC medication such as Excedrin, which contains a combination of acetaminophen and aspirin plus caffeine, provides enhanced pain relief compared to other analgesic medications that lack caffeine.
 Worldwide pharmaceutical sales increased over the prior year. Sales of the company's health care products, including hips, knees and ostomy products, increased in the quarter principally as a result of growth outside the U.S.
 In the company's consumer business, the Ban anti-perspirant line experienced strong growth internationally. In the nutritional business, Gerber Baby Formula did particularly well, and in January, Mead Johnson signed a contract to establish a joint venture that will produce and sell Enfamil and Enfapro formulas in Guangzhou, China.
 BRISTOL-MYERS SQUIBB COMPANY
 SUMMARY OF CONSOLIDATED SALES AND EARNINGS
 (In Thousands of Dollars Except for Per Share Amounts)
 Percent
 Quarter ended March 31 1993 1992 Increase
 Net Sale $2,755,476 $2,641,438 4
 Earnings from Continuing Operations
 Before Income Taxes 777,733 729,522 7
 Provision for Income Taxes 202,988 195,372 4
 Earnings from Continuing
 Operations 574,745 534,150 8
 Earnings from Discontinued
 Operations, net of taxes (A) __ 13,386
 Earnings Before Cumulative
 Effect of Accounting Change 574,745 547,536
 Cumulative Effect of Accounting
 Change (net of income tax
 benefit of $144,483) (B) -- (246,012)
 Net Earnings $574,745 $301,524
 Per Common Share:
 Earnings from Continuing
 Operations $1.11 $1.03 8
 Earnings from Discontinued
 Operations (A) -- .03
 Earnings Before Cumulative Effect
 of Accounting Change 1.11 1.06
 Cumulative Effect of Accounting
 Change (B) -- (.47)
 Net Earnings $1.11 $.59
 Average Common Shares Outstanding 517,546 518,566
 (A) Reflects the results of The Drackett Company, which was sold on Dec. 31, 1992.
 (B) Reflects the cumulative effect of an accounting change of $390 million before taxes ($.47 per share after taxes) resulting from the adoption of a new accounting standard for postretirement benefits, effective Jan. 1, 1992.
 -0- 4/21/93
 /CONTACT: Elizabeth M. Sigler for Bristol-Myers Squibb Company, 212-546-5764/
 (BMY)


CO: Bristol-Myers Squibb Company ST: New York IN: MTC SU: ERN

LR -- NY018 -- 8496 04/21/93 08:44 EDT
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Date:Apr 21, 1993
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