Bristol Myers Squibb reported quarterly adjusted earnings that topped expectations and posted revenue in line with estimates.Bristol Myers Squibb
The drugmaker said that decline was due to lower sales of Revlimid, which generated $1.43 billion for the quarter. Bristol Myers has been under pressure to launch or acquire new drug products as Revlimid – and eventually, otherRevlimid sales, which fell 41% from the third quarter of 2022, also dropped due to an increase in patients receiving the drug at no cost through the company's patient assistance foundation, Bristol Myers said.
The company narrowed its full-year adjusted earnings outlook to $7.50 to $7.65 per share, from a previous forecast of $7.35 to $7.65 a share.
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