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BMS 1Q: Opdivo Sales Down 10%, Announces Restructuring Initiative

Strategic Productivity Initiative aimed at $1.5 billion in cost savings includes laying off more than 2,200 employees.

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By: Kristin Brooks

Managing Editor, Contract Pharma

Bristol Myers Squibb 1Q Revenues: $11.9 billion (+5%) 1Q Loss: $11.9 billion (earnings were $2.3 billion 1Q23) Comments: Revenue growth in the quarter primarily driven by Eliquis, Reblozyl and Opdualag, partially offset by Opdivo and Revlimid. Eliquis sales were $3.7 billion in the quarter, up 12%. Reblozyl sales were $354 million, up 88%. Opdualag sales were $206 million, up 71%. Opdivo sales were down 10% to $2.0 billion in the quarter and Revlimid sales were down 5% to $1.7 billion.   Re...

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