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Bristol-Myers Profit Beats Expectations, 2016 Guidance Raised

Bristol-Myers Squibb Co. reported first-quarter earnings that beat analysts’ predictions and raised its forecast for the year, as sales of key treatments like the cancer drug Opdivo and the blood thinner Eliquis rose.

Profit excluding some items was 74 cents a share, the New York-based drugmaker said in a statement Thursday, topping the 65-cent average of estimates compiled by Bloomberg.

The drugmaker also increased its forecast for...