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BMS Earnings Beat Estimates, But Opdivo Sales Slide Continues

 
• By Mandy Jackson

The company believes the PD-1 inhibitor’s recent declines will be reversed through new indications, providing revenue growth along with other new products by the time Revlimid faces generics in 2022.

Financial Report
Opdivo sales have declined, but are expected to rise in 2021

Bristol-Myers Squibb Co. reported its third consecutive quarter of declining Opdivo (nivolumab) sales in the US, and second consecutive quarterly sales decline globally, on 6 February. As a result, executives spent most of the company’s earnings call explaining that Bristol-Myers expects its PD-1 inhibitor to return to growth through new indications before Revlimid (lenalidomide) – acquired in the recently closed $76bn acquisition of Celgene Corp. – begins to face generics in 2022.

Opdivo continues to be overshadowed by Merck & Co. Inc.’s competing PD-1 inhibitor Keytruda (pembrolizumab), which dominates the first-line...

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