BMS Has A Lot Of Ground To Make Up Ahead Of Patent Expiries
Opdivo Has Another Down Quarter
Bristol Myers Squibb is struggling to restore Opdivo’s growth and COVID-19 sales impacts didn’t help in Q1. New indications are coming but new products, like Zeposia, are slow to add significant revenue.
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With full-year 2020 and Q1 sales down due to pandemic, the company celebrates the PD-1 therapy’s growth in Q2. CAR-T products Breyanzi, Abecma are off to solid launches but face manufacturing hurdles.
Adding non-transfusion-dependent anemia patients to the Reblozyl label is a key strategy for the product, which BMS expects to reach $4bn in annual sales.
The company, in the midst of a leadership and structural transition, said the pandemic negatively impacted revenues by about $600m.