HomeStockBristol Myers posts barely better-than-expected 4th-qtr outcomes By Reuters

Bristol Myers posts barely better-than-expected 4th-qtr outcomes By Reuters

© Reuters. FILE PHOTO: An indication stands outdoors a Bristol Myers Squibb facility in Cambridge, Massachusetts, U.S., Might 20, 2021. REUTERS/Brian Snyder/File Picture

(Reuters) – Drugmaker Bristol Myers (NYSE:) Squibb Co on Friday posted barely higher than anticipated fourth-quarter earnings on robust gross sales of blood thinner Eliquis and most cancers drug Opdivo.

The corporate stated it earned $4.07 billion within the quarter, or $1.83 a share, up from $3.33 billion or $1.46 a share, a 12 months earlier. Analysts on common anticipated the compay to earn round $1.80 a share, in accordance with Refinitv IBES knowledge.

Income within the quarter was $11.99 billion in contrast with $11.07 billion in 2020. Gross sales of Eliquis rose 18% to $2.7 billion and gross sales of most cancers immuniterapy rose 11% to $1.99 billion within the quarter.

Gross sales of the corporate’s top-selling most cancers drug Revlimid rose 1% to $3.33 billion within the quarter. That drug could have generic competitors in the US and internationally this 12 months, and gross sales are anticipated to say no.

Bristol Myers nonetheless expects earnings and gross sales development this 12 months. The corporate forecast 2022 earnings per share of $7.65 to $7.95 a share. Analysts, on common, had forecast $7.86 a share for the 12 months.

It additionally reiterated its 2022 gross sales forecast of $47 billion.

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