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Thursday, October 25, 2018

Bristol-Myers raises FY18 adjusted EPS view to $3.80-$3.90 from $3.55-$3.65


Consensus $3.64. Key revised 2018 GAAP and non-GAAP line-item guidance assumptions are worldwide revenues increasing in the high-single digits; Gross margin as a percentage of revenue to be approximately 71% for both GAAP and non-GAAP; An effective tax rate of approximately 16.5% for GAAP and approximately 17% for non-GAAP. “We had a very good quarter with strong commercial performance and advances in our portfolio through important clinical and regulatory milestones, including exciting new data for psoriasis patients with our internally discovered and developed TYK2 inhibitor. Looking forward, we will continue to deliver on our strategy through robust commercial execution and advancing the potential of our increasingly diverse R&D pipeline,” said CEO Giovanni Caforio.

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