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  • Bristol Myers Squibb...

Bristol Myers Squibb posts better than expected Q3 earnings

Ruchika SharmaWritten by Ruchika Sharma Published On 2020-11-07T12:09:00+05:30  |  Updated On 7 Nov 2020 12:09 PM IST
Bristol Myers Squibb posts better than expected Q3 earnings
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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.

Read also:Bristol Myers Squibb Onureg gets USFDA approval to treat Acute Myeloid Leukemia

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.

Read also: Bristol Myers to buy heart drug maker MyoKardia for USD 13 billion



bristol myers squibbbristol myers squibb newscelgeneq3 resultsfinancial results
Source : Reuters
Ruchika Sharma
Ruchika Sharma

    Ruchika Sharma joined Medical Dialogue as an Correspondent for the Business Section in 2019. She covers all the updates in the Pharmaceutical field, Policy, Insurance, Business Healthcare, Medical News, Health News, Pharma News, Healthcare and Investment. She has completed her B.Com from Delhi University and then pursued postgraduation in M.Com. She can be contacted at editorial@medicaldialogues.in Contact no. 011-43720751

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