NEW YORK: U.S drugmaker Bristol-Myers Squibb Co, which is set to buy biotechnology company Celgene Corp for US$74 billion, posted slightly better-than-expected first-quarter earnings on Thursday on strong sales of its blockbuster blood thinner Eliquis.
That difference is largely due to Eliquis, which Bristol shares with Pfizer Inc. Sales of the drug used to prevent blood clots that can cause strokes jumped 28 percent from last year to US$1.93 billion. Analysts had expected US$1.82 billion from the drug in the quarter.Sales of cancer immunotherapy Opdivo were in line with Wall Street expectations at US$1.8 billion, up 19 percent from a year ago but basically flat compared with the previous quarter.
Some analysts and investors have suggested that one reason Bristol launched its bid for Celgene was over concerns about Opdivo's growth after losing ground to Merck.
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