The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, US, on Wednesday, Dec. 27, 2023. Bristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as its blockbuster blood thinner Eliquis and several new drugs posted sales growth. Two-thirds of savings are associated with drug research and development, Bristol Myers Squibb executives said during an earnings call on Thursday. Those deals come as Bristol Myers faces pressure to launch new drugs and offset the potential loss of revenue from top-selling treatments. Shares of Bristol Myers fell more than 1% in premarket trading Tuesday.

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Persons: Bristol Myers, Samit Hirawat, Chris Boerner, Boerner, Revlimid Organizations: Bristol Myers Squibb, Bristol Myers, Karuna Therapeutics, SystImmune, Bristol, LSEG Locations: Cambridge, Cambridge , Massachusetts, Here's