Bristol-Myers Squibb says profit rose 5.8 percent after its top-seller, the Plavix blood thinner, recaptured market share from a generic and sales increased for its schizophrenia and HIV drugs. Second-quarter net income rose to $706 million, or 36 cents, from $667 million, or 34 cents, a year ago. Revenue rose 1.2 percent to $4.93 billion, led by a 27 percent jump for the Abilify schizophrenia pill Abilify. Earnings excluding some items matched analysts’ estimates, and Bristol raised its forecast. Read the statement closely and you’ll notice talk of “transformation and streamlining.” In other words, job cuts are coming. Most likely, these will be in the back office.

“With the Plavix patent no longer in jeopardy, Bristol’s business fundamentals look solid,”‘ said Roberto Cuca, an analyst with JPMorgan in New York, in a note to clients, Bloomberg News writes. “Bristol appears to have a stable of products that should begin to hit its stride around the time the Plavix patent expires.”

Celgene says second-quarter earnings jumped on rising sales of its drugs for multiple myeloma. Net profit increased to $54.9 million, or 13 cents a share, from $9.6 million, or 3 cents a share, a year ago. Excluding one-time items, earnings were 26 cents a share. Analysts expected 23 cents a share, according to Reuters estimates. Revenue rose 76.4 percent to $348 million.

Mylan Labs says quarterly net earnings rose 5.4 percent, helped by its recent purchase of a controlling interest in India’s Matrix Labs. The Pittsburgh-based company reported fiscal first-quarter net income grew to $79.7 million from $75.6 million a year ago. Revenue rose 56 percent to $542.7 million from $348.8 million.

Shire reports a second-quarter loss after writing down assets acquired in the purchase of New River Pharmaceuticals, but also raised its forecast for revenue growth this year. The net loss was $1.81 billion, or $3.31, compared with profit of $61.3 million, or 12 cents, a year ago. In April, Shire paid $2.6 billion for its partner, New River, to gain full rights for Vyvanse, a replacement for its top-selling ADHD med, Adderall XR. Shire gets more than half its sales from Adderall XR, which loses patent protection in 2009. Vyvanse was launched last month. “Vyvanse is going to be critical to Shire’s fortunes this year,” Robin Campbell, an analyst at Jeffries International in London, tells Bloomberg News.