BMS looks to new product portfolio as revenues slide due to Revlimid losses
Bristol Myers Squibb cited lower Revlimid sales as a driver of its falling revenue in the US in the second quarter of 2023.
The cancer drug brought in just under $1.47 billion in Q2, down 41% from the same time last year due to generic competition and a greater number of patients accessing the drug through an assistance program. The company’s overall revenue was $11.2 billion, down 6% from last year, causing Bristol Myers to revise its full-year guidance. While it previously anticipated a roughly 2% increase in revenues, it’s now calling for a “low single digit decline.”
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