Bristol Myers Squibb dips, despite 3rd-qtr beating expectations
Shares of US pharma major Bristol Myers Squibb (NYSE: BMY) closed down 3% at $56.49 yesterday, after the company reported results for the third quarter of 2021, which it said reflect solid sales, strong commercial execution and continued progress of the company’s pipeline.
Bristol Myers posted third quarter revenues of $11.62 billion, an increase of 10%, driven by Revlimid (lenalidomide), Eliquis (apixaban) and Opdivo (nivolumab), as well as its new product portfolio. Sales were slightly higher (0.66%) than Zacks consensus estimates
The company reported net earnings attributable to Bristol Myers of $1.5 billion, or $0.69 per share, in the third quarter, compared to net earnings of $1.9 billion, or $0.82 per share, for the same period a year ago.
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