Bristol-Myers 2015 Sales Forecast Hit by Dollar’s Strength

Bristol-Myers Squibb Co. forecast 2015 sales that trailed analysts’ estimates as a strong dollar cuts into the drugmaker’s revenue abroad.

Revenue will decline this year to a range of $14.4 billion to $15 billion, the company said in a statement. That compares with the $15.6 billion average projection of 18 analysts’ estimates compiled by Bloomberg. Earnings will be $1.55 to $1.70 a share, Bristol-Myers said. Analysts had estimated an average of $1.73 a share for profit excluding certain items.