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BMS Sales Surged In Q1 Even Without Big COVID-19 Boost

 
• By Mandy Jackson

Bristol Myers Squibb brought in $500m from customers that overbought in case of drug shortages, but first quarter sales still grew 8% excluding those purchases and BMS projects growth through 2021.

Businessman draws a statistical trend line

Bristol Myers Squibb is optimistic about sales growth through 2021, despite impacts from the COVID-19 pandemic this year, since the company’s commercial portfolio generated $10.8bn in first quarter 2020 revenue – up 82% year-over-year largely due to the addition of Celgene Corp.’s products – and it has multiple possible product approvals coming up. 

Q1 was the first full quarter of sales reported by Bristol since the company completed its $74bn acquisition of Celgene in November

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