Pharma Giant Bristol-Myers Stock At 52-Week Low: Analyst Sees Uncertainty In Near-Term Outlook
Portfolio Pulse from Vandana Singh
Bristol-Myers Squibb Co (NYSE:BMY) shares are trading lower due to disappointing Q3 earnings and a downward revision to the medium-term outlook. Sales of the company's popular Revlimid blood cancer treatment have plunged due to competition from generics. The company now expects over $10 billion in revenue from new product portfolio in 2026, compared to $10 billion - $13 billion in 2025. It also expects an adjusted operating margin target of over 37% through 2025 versus 40%+ through 2025.
October 27, 2023 | 6:13 pm
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Bristol-Myers Squibb Co's stock is trading lower due to disappointing Q3 earnings and a downward revision to the medium-term outlook. The company's popular Revlimid blood cancer treatment has seen a plunge in sales due to competition from generics.
The company's disappointing Q3 earnings and a downward revision to the medium-term outlook have negatively impacted the stock price. The plunge in sales of the company's popular Revlimid blood cancer treatment due to competition from generics has also contributed to the decline in the stock price.
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