"Bristol Myers Squibb's Strong Q4 Earnings Driven by New Drug Sales Growth"

Bristol Myers Squibb reported fourth-quarter earnings and revenue that exceeded expectations, driven by strong sales growth of new drugs such as Reblozyl and Opdualag. The company's revenue increased by 1% to $11.48 billion, with higher sales of Eliquis and Opdivo contributing to the growth. While its profit shrank from the prior year, Bristol Myers issued a positive full-year 2024 forecast, expecting higher than anticipated earnings and low single-digit revenue growth. The company's blockbuster drug Revlimid saw a decline in sales, but overall, the performance of new and existing drugs helped offset this decrease.