By Dave Sebastian

Bristol-Myers Squibb Co. (BMY) on Thursday set its financial outlook for 2020 as it reported fourth-quarter loss and higher sales.

The pharmaceutical company expects 2020 revenue of $40.5 billion to $42.5 billion both on a reported and adjusted basis.

It sees earnings of 75 cents a share to 95 cents a share, or $6 a share to $6.20 a share on an adjusted basis.

The company said its guidance for 2020 and 2021 includes the effect of the Celgene acquisition and the Otezla divestiture.

Shares rose 1.1% in premarket trading.

Write to Dave Sebastian at dave.sebastian@wsj.com

(END) Dow Jones Newswires

February 06, 2020 07:39 ET (12:39 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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