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How Bristol-Myers Squibb’s Revenues Look Heading into 2019

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Revenue growth trends

In its third-quarter earnings conference call, Bristol-Myers Squibb (BMY) has forecasted high-single-digit YoY revenue growth for fiscal 2018. This projection is backed by a robust revenue performance and a favorable product mix in the first nine months of 2018.

According to the company’s press release, Bristol-Myers Squibb expects the Celgene (CELG) acquisition to result in the company having nine products with more than $1.0 billion in yearly revenues in its portfolio. This acquisition is also expected to expand the former’s late-stage pipeline and may result in six product launches in the coming quarters. According to the company’s press release, products such as ozanimod and TYK2 in the immunology and inflammation segment and luspatercept, bb22121, fedratinib, and liso-cel in the hematology segment are expected to present a revenue growth opportunity worth $15.0 billion for Bristol-Myers Squibb. According to the company’s press release, Bristol-Myers Squibb is also expected to benefit from multiple registrational readouts in the immuno-oncology segment in future years.

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Revenue projections

Wall Street analysts have projected Bristol-Myers Squibb’s revenues to be $22.54 billion, $23.86 billion, and $24.98 billion for fiscal 2018, fiscal 2019, and fiscal 2020, respectively, which implies a YoY revenue growth rate of 8.49%, 5.83%, and 4.70% for fiscal 2018, fiscal 2019, and fiscal 2020, respectively.

Wall Street analysts have projected Bristol-Myers Squibb’s revenues to be $5.97 billion, $5.87 billion, $6.17 billion, and $6.13 billion, for the fourth quarter, the first quarter of fiscal 2019, the second quarter of fiscal 2019, and the third quarter of fiscal 2019, respectively. These estimates imply a YoY revenue growth rate of 9.51%, 13.01%, 8.19%, and 7.68% for the fourth quarter, the first quarter of fiscal 2019, the second quarter of fiscal 2019, and the third quarter of fiscal 2019, respectively.

These estimates do not include the revenues contributed by Celgene after the completion of its acquisition by Bristol-Myers Squibb.

In the next article, we’ll discuss earnings prospects for Bristol-Myers Squibb in greater detail.

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