$Bristol-Myers Squibb(BMY)$ Bristol-Myers BMY shares rise 8.5% at open after better-than-expected quarterly results and strong demand for 'new drugs'.
BMY showed Q3 revenue of $12.2 billion, beating the consensus of $11.55 billion, up 9% y/y.
Revenue was primarily driven by higher demand for Opdivo, Reblozyl, Camzyos and Opdualag, which grew around 18% as reported, partially offset by Abecma.
The company posted adjusted earnings per share of $2.07, compared to $1.75 a year ago, beating the consensus of $1.63.
BMY also raised its earnings guidance for this year to $0.60-$0.90 per share from the previously reported $0.40-$0.70.
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