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.

Advertisement

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.

More articles on pharmacy:
Bayer to shut down Pennsylvania plant, eliminate 600 jobs
New drug shortages rose 27% in 2018
FDA moves to fast-track OTC naloxone

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Pharmacy

Advertisement

Comments are closed.