April 29 (Reuters) - U.S. drugmaker Bristol-Myers Squibb Co reported higher-than-expected quarterly earnings, helpedby cost cuts, but sales fell short of Wall Street expectations.
The company on Tuesday said it earned $937 million, or 56cents per share in the first quarter ending March 31, helped bygains from the recent sale of its diabetes drugs to longtimepartner AstraZeneca Plc (NYSE: AZN - news) . That compared with $609million, or 37 cents per share, in the year earlier period.
Excluding special items, Bristol-Myers earned 46 cents pershare. Analysts, on average, were expecting 43 cents per share,according to Thomson Reuters I/B/E/S.
(Reporting by Ransdell Pierson, Editing by Franklin Paul)
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