“`html
Bristol Myers Squibb (BMY) reported third-quarter Opdivo sales of approximately $2.5 billion, a 7% increase year-over-year, driven by strong demand in the U.S. for newly launched indications in MSI-high colorectal cancer and first-line non-small cell lung cancer. Additionally, the newly approved Opdivo Qvantig generated $67 million in sales during the same quarter.
The company now projects global sales for Opdivo and Qvantig to increase in the high single-digit to low double-digit percentage range by 2025, up from previous guidance of mid to high single digits. Bristol Myers faces competition from Merck’s Keytruda, which dominates the immuno-oncology market, accounting for over 50% of Merck’s pharmaceutical sales.
Bristol Myers shares have decreased by 12.9% year-to-date, contrasting with a 19.5% growth in the industry. The company currently trades at a forward price-to-earnings ratio of 8.17x, below the industry average of 17.47x.
“`
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
