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The
U.S. drugmaker, which raised its full-year profit forecast
because of the strong second-quarter results, on Thursday said
it lost $130 million, or 8 cents per share, in the period.
Excluding special items, including an $800 million research
charge related to the company's recent purchase of Flexus
Biosciences, Bristol-Myers earned 53 cents per share. That was
well above the average analyst forecast of 36 cents per share,
according to Thomson Reuters I/B/E/S.
Company revenue rose 7 percent to $4.16 billion, about $400
million more than Wall Street expected. Revenue would have risen
16 percent if not for the stronger dollar, which lowers the
value of sales outside the United States.
New hepatitis C treatments Daklinza and Sunvepra had combined
sales of $479 million in the quarter, about $220 million above
forecasts. A pricing agreement with the French government
allowed Bristol-Myers to receive $170 million for previously
unreimbursed sales of the medicines.
Results were also helped by demand for Opdivo, a new treatment
for melanoma and lung cancer that works by removing a mechanism
cancer cells use to evade detection by the immune system. It had
sales of $122 million in the quarter.
Bristol-Myers said it now expects full-year earnings of $1.70 to
$1.80 per share, from its earlier view of $1,60 to $1.70.
(Reporting by Ransdell Pierson; Editing by Chizu Nomiyama)
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