Bristol Myers Squibb posts better than expected Q3 earnings

Published On 2020-11-07 06:39 GMT   |   Update On 2020-11-07 06:39 GMT

New Delhi: Bristol Myers Squibb Co on Thursday posted better-than-expected third-quarter earnings, with most of its top-selling drugs outperforming Wall Street forecasts, as many Americans resumed routine medical care they had put off earlier in the coronavirus pandemic.

The company said it earned $1.87 billion, or 82 cents a share, in the quarter, up from $1.35 billion, or 83 cents a share, a year ago.

This year's results include sales of drugs acquired with the $74 billion purchase of Celgene late last year.

Excluding one-time items, Bristol Myers said it earned $1.63 a share for the quarter. Analysts on average expected $1.49, according to IBES data from Refinitiv.

The New York-based company raised its full-year profit forecast and now expects to earn $6.25 to $6.35 per share, up from its prior view of $6.10 to $6.25 a share.

Sales were $10.54 billion in the quarter, beating analysts' forecasts by about $200 million.

The company's cancer drugs Revlimid, Opdivo and Pomalyst, as well as rheumatoid arthritis medicine Orencia, all exceeded Wall Street expectations.


Tags:    
Article Source : Reuters

Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.

NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.

Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .

Similar News