Bristol Myers Squibb reported second-quarter earnings and revenue that topped expectations and raised its full-year guidance.
The company also raised its 2024 adjusted earnings guidance to 60 cents to 90 cents per share, up from a previous forecast of 40 cents to 70 cents per share.and reinvest that money into key drug brands and research and development programs. In April, the company said that will involve laying off more than 2,000 employees, culling some drug programs and consolidating its sites, among other efforts.
Revenue from Bristol Myers' blood cancer drug Revlimid also topped analysts' estimates for the period despite facing competition from cheaper generics.
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