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Bristol Myers posts slightly better-than-expected 4th-qtr results -Breaking

by Mike Robinson

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© Reuters. FILE PHOTO A sign is seen outside the Bristol Myers Squibb plant in Cambridge, Massachusetts. This was May 20, 2021. REUTERS/Brian Snyder/File Photo

(Reuters] – Bristol Myers, a pharmaceutical company (NYSE) reported Friday that its fourth quarter earnings were slightly more than the expected due to stronger sales of Opdivo and Eliquis blood thinners.

It reported that the company earned $4.07billion, or $1.83 per Share, in the third quarter. That’s up from $3.33billion, or $1.46 each share, one year earlier. Refinitv IBES data shows that analysts had expected the company to make around $1.80 per share.

Quarterly revenue reached $11.99 billion, up from $11.07 million in 2020. Eliquis sales rose 18%, to $2.7billion. Sales of immuniterapy for cancer rose 11%, to $1.99billion in the same quarter.

Revlimid, the top-selling anticancer drug in America, saw sales rise 1% to $3.33 Billion during the third quarter. This drug is expected to see generic competition this year in the United States as well as internationally.

Bristol Myers anticipates continued earnings growth and revenue growth in the coming year. Company forecasts 2022 earnings per shares of $7.65 – $7.95 per share. The average analyst had projected $7.86 per share for the year.

The company also reiterated its $47 billion sales projection for 2022.

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