Challenges and Strategic Initiatives Amidst Revenue Growth and Analyst Expectations
Bristol Myers Squibb on Thursday reported a first-quarter loss as charges related to its recent acquisitions of Karuna Therapeutics, RayzeBio and Mirati Therapeutics offset a 5% increase in revenue. The New Jersey-based drugmaker posted a loss of $4.40 per share, including charges for acquired research and development. On a net basis, Bristol's loss was $5.89 per share.
AstraZeneca soundly topped analyst views while Sanofi narrowed its losses. Both stocks surged in early trade.