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Bristol-Myers Squibb’s Revenue Forecast for Fiscal 2019

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Revenue projections for fiscal 2019

In fiscal 2018, Bristol-Myers Squibb (BMY) reported revenues of $22.56 billion—a rise of 8.59% YoY (year-over-year). According to the company’s fourth-quarter earnings conference call, the performance was mainly driven by strong demand for Opdivo and Eliquis.

In the fourth quarter, Bristol-Myers Squibb reported revenues of $5.97 billion—a rise of 9.5% YoY. The company has beat the consensus revenue estimate by $20 million.

According to Bristol-Myers Squibb’s fourth-quarter earnings press release, the company is expected to report mid-single-digit growth YoY in its worldwide revenues in fiscal 2019.

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On January 3, Bristol-Myers Squibb issued a press release announcing its definitive merger agreement to acquire Celgene for a consideration of ~$74 billion. The deal is expected to be closed by the third quarter. Analysts’ revenue estimates for Bristol-Myers Squibb don’t involve revenues contributed by Celgene’s products to the combined company if the deal is completed.

Growth drivers

According to Bristol-Myers Squibb’s fourth-quarter earnings conference call, Opdivo witnessed strong uptake in the adjuvant melanoma and first-line RCC (renal cell carcinoma) indications in the US market in fiscal 2018.

On January 14, Bristol-Myers Squibb issued a press release announcing the European Commission’s approval for the Opdivo-Yervoy combination regimen in first line RCC indication. The regulatory approval is expected to emerge as a major growth driver for Opdivo in fiscal 2019.

According to Bristol-Myers Squibb’s fourth-quarter earnings conference call, Eliquis maintained its leading position in the novel oral anticoagulant segment in the world in fiscal 2018. The company maintained its leading position in the oral anticoagulant segment in the United States in fiscal 2018. According to Bristol-Myers Squibb’s fourth-quarter earnings conference call, the company expects continued uptake of the drug in fiscal 2019 based on its superior performance in atrial fibrillation procedures.

Next, we’ll discuss Bristol-Myers Squibb’s EPS expectations for fiscal 2019.

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