Drugmaker Bristol Myers said it earned $4.07-billion in the quarter, or $1.83 a share, up from $3.33-billion or $1.46 a share, a year earlier
on Friday posted slightly better than expected fourth-quarter earnings on strong sales of blood thinner Eliquis and cancer drug Opdivo.
The company said it earned $4.07-billion in the quarter, or $1.83 a share, up from $3.33-billion or $1.46 a share, a year earlier. Analysts on average expected the company to earn around $1.80 a share, according to Refinitv IBES data. Revenue in the quarter was $11.99-billion compared with $11.07-billion in 2020. Sales of Eliquis rose 18 per cent to $2.7-billion and sales of cancer immuniterapy rose 11 per cent to $1.99-billion in the quarter.
Sales of the company’s top-selling cancer drug Revlimid rose 1 per cent to $3.33-billion in the quarter. That drug will have generic competition in the United States and internationally this year, and sales are expected to decline. Bristol Myers still expects earnings and sales growth this year. The company forecast 2022 earnings per share of $7.65 to $7.95 a share. Analysts, on average, had forecast $7.86 a share for the year.Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter.
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