Health
Bristol Myers Boosts Outlook as Older Drugs Drive Sales Beat
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Bristol Myers Squibb Co. raised its sales and profit forecasts for the year on better-than-expected sales of older drugs and a favorable impact from the weaker dollar.
The first quarter saw strong performances from the blood thinner Eliquis and cancer treatment Revlimid, a pair of older medicines whose sales are expected to dramatically decline before the end of the decade. Bristol also had a foreign exchange benefit of about $500 million in the period that contributed to sales coming in ahead of estimates.