Bristol Tops Estimates on New Drugs Ahead of Key Trial Results

Bristol Myers Squibb Co.’s quarterly profit and sales beat Wall Street’s expectations, a sign of strength in the drugmaker’s business as it awaits the results of closely watched clinical trials that will determine its future.

Revenue rose 3% in the first quarter to $11.5 billion, driven by favorable currency swings as well as growth of newer treatments such as the heart drug Camzyos and the blood cancer treatment Breyanzi, the company said in a statement. The Princeton, New Jersey-based drugmaker also reaffirmed its forecast for the year.