BMS Sales Surged In Q1 Even Without Big COVID-19 Boost
Bristol Myers Squibb brought in $500m from customers that overbought in case of drug shortages, but first quarter sales still grew 8% excluding those purchases and BMS projects growth through 2021.
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Bristol Myers Squibb confirmed that approval for lisocabtagene maraleucel (liso-cel) will be delayed by the US FDA’s COVID-19-related restrictions on travel for manufacturing facility inspectors.
In last year’s acquisition, Bristol Myers Squibb agreed to pay Celgene investors another $9 per share based on three approvals, including idecabtagene vicleucel (bb2121) by 30 March 2021.
Sales of the Bristol PD-1 inhibitor dropped 9% year-over-year but the company says approvals in first-line NSCLC are off to a good start. Q2 saw growth for Eliquis and Revlimid despite pandemic impact.