Bristol Myers Squibb posted much better-than-expected second-quarter results on Thursday on strong sales of its best-selling brands, but failed to convince investors that newer products could drive future growth and shares fell nearly 5%.

Bristol Myers Squibb trimmed its full-year adjusted earnings view as it reported lower second-quarter earnings due to a charge related to its BioNTech partnership.

Bristol-Myers Squibb reported second-quarter earnings that exceeded analyst expectations, driven by strong performance across its Growth Portfolio, prompting the pharmaceutical giant to raise its full-year guidance.