business / news / / Reuters
The drugmaker posted adjusted earnings of $1.58 per share for the quarter.
Bristol Myers' revenue and adjusted earnings beat analyst expectations this quarter, reaching $11.49 billion and $1.58 per share.
KEY POINTS
- Sales from Bristol Myers' newer cancer medicines, including Breyanzi and Camzyos, offset declines in older drugs like Revlimid.
- Opdivo sales fell 5% to $2.15 billion, with the drop attributed to reduced wholesaler inventory levels.
- Bristol Myers has already achieved $1 billion in cost savings, targeting $2 billion by the end of 2025.
- CEO Chris Boerner disclosed that AI is accelerating drug identification by 50% and reducing clinical development cycle times by 30%.
COMPANIES
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