Pharmaceutical Earnings Roundup: AZN, BMY, LLY, NVS

Four of the world’s biggest pharmaceutical companies reported fourth quarter earnings this morning. Here’s a quick summary of their results, along with Wall Street’s initial response to each.

AstraZeneca plc (AZN) posted fourth quarter earnings of $1.39 per share on $8.62 billion in revenue, topping Wall Street’s expectations for both profit ($1.34 per share) and sales ($8.39 billion). The company also announced a $4 billion stock buyback plan and declared a second interim dividend of $1.85, bringing the company’s full-year dividend total to $2.55 per share (11% better than the prior year). Shares of AZN rose 2.28% to $49.70 in pre-market trading, where they now carry a 5.13% dividend yield.

Bristol Myers Squibb Co. (BMY) reported fourth quarter earnings from continuing operations of $0.47 per share, matching the consensus estimate, while revenue of $5.11 billion topped the $5.05 billion expected by Wall Street. The company announced 2011 earnings guidance of $2.10 to $2.20 per share, below the $2.25 currently projected by analysts. Shares of BMY fell to $25.74 (0.73%) before the opening bell, where they yield 5.13%.

Eli Lilly and Company (LLY) posted adjusted fourth quarter earnings of $1.11 per share on $6.19 billion in revenue, edging the consensus estimates for both profit ($1.10 per share) and sales ($5.99 billion). The company expects 2011 earnings of $4.15 to $4.30 per share, bracketing the $4.29 currently forecast by Wall Street. Shares of LLY rose to $35.14 (+0.54%) in pre-market trading, where they carry a 5.58% dividend yield.

Novartis (NVS) reported fourth quarter earnings of $2.27 billion on $14.2 billion in revenue, falling short of Wall Street’s profit estimate ($2.36 billion) while narrowly edging sales expectations ($14.1 billion). The company expects 2011 revenue to grow “around the double-digit mark” while analysts are currently projecting a 12.4% jump in sales. Shares of NVS fell to $56.38 (-2.69%) in pre-market trading, where they yield 3.46%.

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