BMS’s Revlimid Loss Of Exclusivity Is Not As Bad As Expected, But Not For Long

 
• By Alaric DeArment
  
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The company credited generics’ late market entry, but that benefit is not expected to last; the firm lowered guidance for annual sales of the oncologic. The firm stressed growth opportunities ahead for Opdivo, Opdualag and Camzyos.

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BMS announced its first quarter earnings on 29 April • Source: Shutterstock

Bristol Myers Squibb Company escaped some of the anticipated hit from generic competition for its top-selling drug thanks to later-than-expected US market entry as its first-quarter revenues came in above consensus estimates, even as sales for some of its other products came in below expectations. But the company does not expect that reprieve to last for long and lowered annual guidance for the oncologic.

The drug maker announced its earnings for the quarter on 29 April, reporting revenues of $11.6bn that represented a 5%...

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