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Bristol Myers Squibb Witnesses Strong Demand For 'Newer Drugs' As Q2 Earnings Beat Expectations, Raises 2024 Profit Forecast

Friday, Bristol Myers Squibb & Co (NYSE:BMY) posted second-quarter revenues of $12.20 billion, beating the consensus of $11.55 billion, an increase of 9% year-over-year, or 11% when adjusted for foreign exchange impacts, primarily driven by the Growth Portfolio and Eliquis. Growth Portfolio worldwide revenues increased to $5.6 billion compared to $4.7 billion a year ago, representing growth of 18% on a reported basis or 21% when adjusted for foreign exchange impacts. Growth Portfolio revenues were primarily driven by higher demand for Opdivo, Reblozyl, Camzyos, and Opdualag, partially offset by Abecma. Related: FDA Approves Bristol Myers Squibb’s Combination Therapy For Colorectal Cancer Patients With Certain Type Of Gene ...