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Bristol-Meyers Shines With Third-Quarter Earnings

 (Image source: kkc.com)

Bristol-Myers Squibb Co (NYSE:BMY) reported good third-quarter earnings fueled in large part by huge sales gains from cancer and diabetes drugs. The pharmaceutical giant earned 46 cents per share with profits of $692 million, which beat estimates by two pennies. Revenue for the quarter was up 9 percent to $4.1 billion compare to a year ago of $3.7 billion. Sales of the type-two diabetes drug Kombiglyze was up 19 percent. In addition, sales of its leukemia and skin cancer drugs surged 53 percent. The full-year outlook was reaffirmed.  Year-to day, the stock has been up 51 percent.