Enfamil Sales Feed Mead Johnson Growth; Bristol’s Pravachol Stumbles

Enfamil formula sales led to double-digit worldwide growth of Bristol-Myers Squibb's Mead Johnson Nutritionals division.

Mead Johnson is an "important source of strength for the company, offsetting exclusivity losses" affecting pharma division sales, CEO Peter Dolan said during a Jan. 25 fourth-quarter and year-end earnings call.

Pharmaceutical division fourth-quarter sales declined 3% to $4.0 bil, the firm reported. Overall sales for BMS decreased 1% for the year to $19.2 bil.

U.S nutritional fourth-quarter sales increased 13% over the prior-year quarter to $282 mil., while worldwide nutritionals grew 16% to $584 mil., both driven by Enfamil and other products for toddlers and children.

The formula's worldwide full-year sales increased 15% over 2004 to $992 mil., with the U.S. market contributing $685 mil.

Mead Johnson, which reached $2.2 bil. in net sales in 2005, "has good plans for growth in the years ahead," Dolan said.

During 2005, the firm expanded its LIPIL line of DHA-containing formula products under the Enfamil brand with Gentlease , which features broken-down milk proteins to aid digestion. The brand also added prenatal vitamins to its portfolio in 2004.

The pharmaceutical division's decreased fourth-quarter revenue was due in part to an 18% drop in Pravachol (pravastatin) sales to $584 mil.

The cholesterol-lowering agent'sweaker performance resulted from increased competition in the class, Bristol said.

Pravachol loses exclusivity in April 2006, and the firm is pursuing an Rx-to-OTC switch, with Bayer lined up to handle marketing duties.

The statin was previously reviewed for OTC status in 2000, and is generally deemed to have a better safety profile than Merck's Mevacor (lovastatin), which was deemed "not approvable" for a switch in 2005 due to self-selection issues.

- Christopher Walker