This morning, Bristol Myers Squibb (NYSE:BMY) reported lackluster second quarter earnings of $536 million, or 32 cents per share, as the company is facing increased competition from generic drug manufactures and a thinning pipeline of new products. Sales also declined by 9% to $4.44 billion, though these numbers surpassed estimates. Shares of Bristol Myers were headed lower today as investors were discouraged by the company's revised earnings estimates for 2013 of $1.41 to $1.49 per share.
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