Bristol Myers Beats Quarterly Expectations on Drug Demand (1)

Bristol Myers Squibb Co. raised its revenue outlook for the year after newer medicines outperformed expectations, easing pressure on its portfolio of aging blockbusters.

For the quarter, adjusted earnings per share came in at $1.63, topping analysts’ estimates. Revenue rose to $12.2 billion, also ahead of expectations, driven by stronger demand for newer treatments including Reblozyl, Camzyos and Breyanzi, the company said in a statement Thursday.

Shares were up 0.35% in premarket trading.

The Princeton, New Jersey-based drugmaker now expects 2025 sales of between $47.5 billion and $48 billion, lifting the low end of its range by $1 ...