BMS sales hit by Revlimid competition

27 April 2023

Bristol Myers Squibb (NYSE: BMY) has reported first-quarter 2023 revenue of $11.34 billion, a 3% decline on the same period of 2022.

Analysts, on average, expected sales of $11.49 billion, according to Refinitiv data. BMS blamed the decrease on generic competition facing its multiple myeloma drug Revlimid (lenalidomide).

BMS earned around $2.05 per share in the quarter, excluding one-time items. Analysts on average had expected the company's earnings to be $1.97 per share.

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