Thursday, November 02, 2017 8:48:23 AM
In the third quarter, even as revenue jumped 7%, net earnings came crashing down by about 30%. Even their safely adjusted EPS fell 3%.
It's been an up-and-down kind of year for Bristol-Myers Squibb. Early this year, we investors were concerned after BMY opted not to pursue accelerated approval for a combination of Opdivo and Yervoy in first-line non-small cell lung cancer. Those worries largely evaporated, though, and BMS stock eventually went on to generate nice year-to-date gains.
Now, however, worries are resurfacing. After they announced their third-quarter results last week Thursday, there was an immediate drop in its share price. Here are the highlights of those results:
Note: This is part of Q3 BMY Earnings Coverage. View Full Infographic Here.
There are too many uncertainties for its pipeline candidates and competition from others in the market.
Despite a few bumps in the road over the last year or so for Opdivo, it's still a huge blockbuster and has a bright future ahead of it. The drug might even rank as the second-highest-selling cancer drug in the world by 2022 with annual revenue of $9.9 billion. The momentum for Eliquis also continues to be impressive.
The chief concern with Bristol-Myers Squibb, however, is that its pipeline is skewed toward early- and mid-stage assets. But with Opdivo and Eliquis performing well, that's not something to lose sleep over. I won't say that BMS is the best pharma stock on the market. It isn't. However, the company has solid prospects over the long run. An earnings miss in the third quarter doesn't change those prospects at all.
Note: This is part of Q3 BMY Earnings Coverage. View Full Infographic Here.
As you can see, all is green and improving for the worldwide product sales.
So, now I ask you: Should you be worried for BMY?
Recent BMY News
- New Long-Term Zeposia (ozanimod) Data Demonstrate Durable Efficacy and Consistent Safety in Relapsing Forms of Multiple Sclerosis • Business Wire • 09/18/2024 10:59:00 AM
- Bristol Myers Squibb Presents Landmark 10-Year Follow-Up Data from CheckMate -067 Which Showed Continued Durable Long-Term Survival Benefit with Opdivo® plus Yervoy® in Advanced Melanoma • Business Wire • 09/15/2024 12:55:00 PM
- Bristol Myers Squibb to Report Results for Third Quarter 2024 on October 31, 2024 • Business Wire • 09/12/2024 10:59:00 AM
- Bristol Myers Squibb Announces Dividend • Business Wire • 09/10/2024 09:45:00 PM
- Bristol Myers Squibb to Present Data at ESMO Demonstrating Ongoing Leadership in Immuno-Oncology and Progression of Assets from Its Differentiated Research Platforms • Business Wire • 09/09/2024 10:59:00 AM
- Bristol Myers Squibb Employees to Relay Nearly 3,000 Miles Cross-Country Aspiring to Raise Over $1 Million for the V Foundation for Cancer Research • Business Wire • 09/06/2024 11:00:00 AM
- Long-Term Follow-Up Data from Phase 3 Study of CAMZYOS® (mavacamten) Underscores Established Efficacy and Safety Profile in Patients with Symptomatic Obstructive Hypertrophic Cardiomyopathy (oHCM) • Business Wire • 09/01/2024 07:33:00 AM
- Bristol Myers Squibb to Participate in Upcoming Investor Conferences • Business Wire • 08/27/2024 10:59:00 AM
- Bristol Myers Squibb to Present Data Across Cardiovascular Portfolio at the European Society of Cardiology Congress 2024 • Business Wire • 08/26/2024 10:59:00 AM
- Cruise and Uber Join Forces for Robotaxis, Alibaba Shifts Primary Listing to Hong Kong, Altria Hikes Dividend 4.1% • IH Market News • 08/23/2024 12:20:26 PM
- Bristol Myers Squibb Receives U.S. Food and Drug Administration sBLA Acceptance for First-Line Treatment of Unresectable Hepatocellular Carcinoma • Business Wire • 08/21/2024 10:59:00 AM
- European Medicines Agency Validates Bristol Myers Squibb’s Application for CAR T Cell Therapy Breyanzi for Relapsed or Refractory Follicular Lymphoma • Business Wire • 08/19/2024 10:59:00 AM
- Toyota Reports Another Global Production Decline, Delta Sues CrowdStrike, Meta Launches AI Studio for Custom Chatbots • IH Market News • 07/30/2024 10:00:51 AM
- Bristol Myers Squibb Reports Second Quarter Financial Results for 2024 • Business Wire • 07/26/2024 10:59:00 AM
- U.S. Index Futures Point to Higher Open, Oil Prices Down • IH Market News • 07/26/2024 10:08:50 AM
- Dexcom Shares Drop 37% on Weak Revenue and Forecast; Coursera Rises 24% After Beating Q2 Revenue Estimates • IH Market News • 07/26/2024 09:57:38 AM
- Bristol Myers Squibb Receives European Medicines Agency Validation of Application for Opdivo (nivolumab) plus Yervoy (ipilimumab) for First-Line Treatment of Unresectable or Advanced Hepatocellular Carcinoma • Business Wire • 07/19/2024 10:59:00 AM
- Bristol Myers Squibb to Participate in UBS Virtual Targeted Protein Degradation Day • Business Wire • 07/08/2024 10:59:00 AM
- Bristol Myers Squibb Announces U.S. FDA Accelerated Approval of KRAZATI® (adagrasib) in Combination with Cetuximab for Adult Patients with Previously Treated KRAS G12C-Mutated Locally Advanced or Metastatic Colorectal Cancer (CRC) • Business Wire • 06/21/2024 11:30:00 PM
- European Medicines Agency Validates Bristol Myers Squibb’s Application for Subcutaneous Nivolumab • Business Wire • 06/21/2024 10:59:00 AM
- Bristol Myers Squibb to Report Results for Second Quarter 2024 on July 26, 2024 • Business Wire • 06/20/2024 10:59:00 AM
- Bristol Myers Squibb Elects Michael R. McMullen to Board of Directors • Business Wire • 06/18/2024 08:16:00 PM
- Bristol Myers Squibb Announces Dividend • Business Wire • 06/18/2024 10:59:00 AM
- U.S. Food and Drug Administration Approves Augtyro™ (repotrectinib), a Next-Generation Tyrosine Kinase Inhibitor (TKI), for the Treatment of Patients with NTRK-Positive Locally Advanced or Metastatic Solid Tumors • Business Wire • 06/13/2024 08:46:00 PM
- Bristol Myers Squibb Announces Opdivo (nivolumab) Plus Yervoy (ipilimumab) Significantly Improved Overall Survival Compared to Lenvatinib or Sorafenib as First-Line Treatment for Patients with Advanced Hepatocellular Carcinoma in CheckMate -9DW Trial • Business Wire • 06/04/2024 12:00:00 PM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM