Bristol Myers Squibb's Revlimid Sales Plunge 41%, but Opdivo and Eliquis Boost Q3, Stock Dips
Portfolio Pulse from Anusuya Lahiri
Bristol Myers Squibb & Co's Q3 revenues declined 2% Y/Y to $10.966 billion, primarily due to a 41% drop in sales of Revlimid. However, sales of Opdivo and Eliquis rose 11% and 2% respectively. The company's adjusted EPS of $2.00 beat the consensus of $1.76. The company reiterated its FY23 revenue to fall by low single-digit percentages, primarily due to lower-than-expected Revlimid sales. BMY shares are down 4.79% premarket.
October 26, 2023 | 1:28 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Bristol Myers Squibb's Q3 revenues declined due to a drop in Revlimid sales, but were offset by increased sales of Opdivo and Eliquis. The company's shares are down 4.79% premarket.
The decline in Bristol Myers Squibb's Q3 revenues is primarily due to a significant drop in sales of Revlimid. However, this was partially offset by increased sales of Opdivo and Eliquis. The company's shares are down premarket, indicating a negative short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100