Drugmaker Bristol Myers Squibb (BMY.N) on Thursday pushed back by a year the time frame for its current new-product portfolio to hit $10 billion in sales as the ramp-up of new drugs including anemia treatment Reblozyl, psoriasis drug Sotyktu, and multiple sclerosis drug Zeposia takes longer than expected.
on Thursday pushed back by a year the time frame for its current new-product portfolio to hit $10 billion in sales as the ramp-up of new drugs including anemia treatment Reblozyl, psoriasis drug Sotyktu, and multiple sclerosis drug Zeposia takes longer than expected.
"The long-term potential of these brands remains the same," BMS Chief Financial Officer David Elkins said in an interview, noting that the drugs are on pace to hit around $3.5 billion in sales this year. The company raised the bottom end of the range for its full-year earnings per share forecast. It now expects earnings per share in the range of $7.50 to $7.65, up from its previous target of $7.35 to $7.65.
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