First-quarter 2011 revenues were $16.5 billion, consistent with the year-ago quarter. Revenues for first-quarter 2011 compared with the year-ago quarter were favorably impacted by $97 million, or 1%, due to foreign exchange, and $224 million, or 1%, due to the addition of legacy King products.

Sales of the Bayer Group climbed by 13.2 percent in the first quarter of 2011, to EUR 9,415 million (Q1 2010: EUR 8,316 million). Adjusted for currency and portfolio effects, sales were up by 10.4 percent.

Pfizer Inc. announced top-line results from the ORAL Standard (A3921064) and ORAL Step (A3921032) Phase 3 studies of tofacitinib (development code: CP-690,550), an investigational, novel, oral JAK inhibitor.

Bristol-Myers Squibb Company (NYSE: BMY) announced first quarter results that included strong sales and earnings growth, and several key R&D milestones - most notably U.S. regulatory approval for YERVOY. The company also confirmed guidance for the year.

Genzyme Corporation announced that its first-quarter 2011 revenue grew 7 percent compared with the same period in 2010. Genzyme first-quarter revenue grew to $1.009 billion from $941.9 million in the first quarter of 2010.

Shire plc (LSE: SHP, NASDAQ: SHPGY), the global specialty biopharmaceutical company, announces results for the three months to March 31, 2011.

Eli Lilly and Company (NYSE: LLY) and Medtronic, Inc. (NYSE: MDT) have entered into a collaboration to research and develop a new approach to treating Parkinson's disease that involves delivering a potential new medicine to the brain using an implantable drug delivery system.