Bristol-Myers posts 33 percent profit jump in 1Q

TRENTON, New Jersey (AP) — Drugmaker Bristol-Myers Squibb Co. said Thursday its first-quarter profit jumped 33 percent, due to higher sales, a payment from a lawsuit and a charge a year earlier.

Bristol-Myers, which sells blockbuster blood thinner Plavix and bipolar disorder treatment Abilify, said its net income was $986 million, or 57 cents per share. That's up from $743 million, or 43 cents per share, in 2010's first quarter.

Excluding several small accounting charges and gains, net income was $1 billion, or 58 cents per share.

Revenue rose 4 percent to $5.01 billion, from $4.81 billion a year ago, on higher sales of blockbuster blood thinner Plavix and several other …