Bristol-Myers Squibb Beats Earnings Estimates, Announces iPierian Acquisition
Bristol-Myers Squibb reported higher than expected quarterly earnings on Tuesday, helped by cost cuts and lower taxes. BMY also announced it will acquire iPierian for $175 million.
Bristol-Myers Squibb reported higher than expected quarterly earnings on Tuesday, helped by cost cuts and lower taxes. There were concerns over a possible delay in completing its marketing application for a high-profile cancer drug. BMY posted Q1 earnings of 56 cents per share, beating estimates of 43 cents a share, while revenue dipped to $3.81 billion, missing estimates of $3.89 billion. Bristol-Myers Squibb also announced the acquisition of iPierian for $175 million.
