Bristol-Myers Squibb highlights strong performance in third quarter of 2016

Bristol-Myers Squibb has announced its financial results for the third quarter of 2016, during which it delivered a revenue total of $4.9 billion (4.02 billion pounds).

This represents a year-on-year increase of 21 percent, with strong sales and operating performance achieved during the quarter, as well as continued growth for key products such as Opdivo and Eliquis.

Further progress was made on the development of the company's pipeline, which was additionally bolstered by a deal to work with Nektar Therapeutics to research a new Opdivo-based combination cancer regimen.

Based on these strong results, the company has raised its financial guidance for 2016, while approving a new $3 billion repurchase authorisation for its common stock.

Additionally, a new restructuring plan has been outlined, with more focused investment in commercial opportunities against key brands and markets to be allied with a more agile research division, streamlined operations and realigned manufacturing capabilities.

Dr Giovanni Caforio, chief executive officer of Bristol-Myers Squibb, said: "We are evolving our operating model to more effectively focus resources on key priorities and simplify execution to deliver sustainable growth and to speed transformational medicines to patients."

With over 20 years of experience within the pharmaceutical market, we at Zenopa have the knowledge, skills and expertise to help find the right job for you. To find out more about the current pharmaceutical roles we have available, you can search for the latest job roles, register your details, or contact the team today.