Concerns that the Fed will have to wrestle with elevated inflation for a long time slowed this week’s rally
Given the prospect of a new governing coalition taking the reins in 2024, they should get to work on formulating a stance
The state-owned ports operator is seeks private investment to expand Durban and Ngqura port facilities
The ruling party gathering hit by litigation and a breach of security allegedly leading to the cloning of delegates’ tags
The firm is looking to reduce volatility for investors, but adds that being listed on the JSE no longer enhances access to capital
Consumer finances crumble under the pressure of rising prices and interest rates, Unisa vulnerability report shows
Group homes in on home deliveries trend and hopes to supply electricity to Eskom
GOP questions FBI’s actions after search warrant shows motive was possible Espionage Act violations
Reece James seemed to have sealed the points for the hosts with a 77th-minute goal, but the striker scored in stoppage time
Rushdie’s condition is not immediately known
New York — On Thursday, Bristol-Myers Squibb significantly raised its full-year earnings forecast, even as first-quarter sales of some medicines fell short of expectations and sent shares of the US pharmaceutical firm down more than 1%.
Sales of immuno-oncology drug Opdivo, by far the company’s most important growth driver, surged 34% to $1.51bn, beating analysts’ estimates of $1.28bn.
"Eliquis and Opdivo were very strong," SunTrust Robinson Humphrey analyst John Boris said, but added: "There was weakness across several of its franchises," noting sales shortfalls of cancer drugs Sprycel for leukaemia and Bristol’s older immunotherapy, Yervoy.
The hepatitis C franchise all but disappeared with sales of just $3m, while Wall Street was looking for about $56m. That stood in sharp contrast to AbbVie’s hepatitis C drugs, which blew past analysts’ forecasts on Thursday.
Bristol-Myers shares were down 1.5% at $50.98, while AbbVie’s were up 4.1% at $95.70, on Thursday.
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