Bristol-Myers swings to $1.2B profit in Q4

Drug giant Bristol-Myers Squibb saw a fourth-quarter profit of $1.3 billion in 2018, up from a loss of $2.3 billion in the same quarter one year prior, The Wall Street Journal reports.

In the fourth quarter, the company's revenue grew 10 percent to $6 billion. The sales growth was attributed to Bristol's top-selling products, including its lung cancer drug Opdivo and blood thinner Eliquis, which  saw sales rise 33 percent and 25 percent, respectively.

For fiscal year 2018, Bristol Myers reported a profit of $4.95 billion and sales of $22.6 billion.

The results exceeded Wall Street expectations.

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