Companies · BMY
Bristol-Myers Squibb
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Latest analysis
Updated Oct 29, 2026
BMS Q3 2026: Growth portfolio up 12% to $7.7B; four positive Phase 3 readouts in two months accelerate pipeline-to-launch conversion
Bristol-Myers Squibb delivered $13.1 billion in Q3 2026 total revenue, a 7% year-over-year increase, with growth portfolio revenue of $7.7 billion rising 12% driven by Reblozyl, Breyanzi, Camzyos, and the newly launched Symvexis. Four positive Phase 3 readouts in the past two months — Symvexis PFS, admilparant in IPF, RAISE 101 in GEP-NETs, and Arlocell in post-BCMA myeloma — represent the most concentrated pipeline validation event in recent BMS history and materially de-risk the late-stage asset base. Full-year non-GAAP EPS guidance was raised to $6.35–$6.55, and management flagged an anticipated $1.5–$2.0 billion Eliquis step-down in 2027 while citing $2 billion in productivity savings on track by end of 2027.
Tone: bullishRevenue
$48.2B
BMY 10-K · FY 2025
Employees
32,500
Revenue FY2024
$48.3B
Founded
1887
Profile
BMY 10-K Item 1 · Feb 11, 2026Bristol-Myers Squibb is a global biopharmaceutical company focused on discovering, developing and delivering innovative medicines for patients with serious diseases. The company operates in a single segment spanning oncology, hematology, immunology, cardiovascular, and neuroscience. Its strategy is to combine large-company resources with biotech-style speed and innovation.
Read filing description ↓ Collapse description ↑
We operate in a single segment engaged in the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines that help patients prevail over serious diseases. Our principal strategy is to combine the resources, scale and capability of a large pharmaceutical company with the speed, agility and focus on innovation typically found in the biotech industry. Our focus as a biopharmaceutical company is on discovering, developing and delivering transformational medicines for patients facing serious diseases in areas where we believe that we have an opportunity to make a meaningful difference: oncology, hematology, immunology, cardiovascular, neuroscience and other areas where we can also create long-term value. Our priorities are to focus on transformational medicines where we have a competitive advantage, drive operational excellence throughout the organization and strategically allocate capital for long-term growth and shareholder returns. We are driving commercial execution in our key first-in-class and/or best-in-class marketed products, where we continue to expand and see potential for further expansion into the future. We compete with other global research-based drug companies, many smaller research companies with more limited therapeutic focus and generic drug manufacturers. Our products are sold worldwide, principally to wholesalers, distributors, specialty pharmacies, and to a lesser extent, retailers, hospitals, clinics, government agencies and directly to patients. We have significant manufacturing operations in the U.S., Puerto Rico, the Netherlands, Ireland and Switzerland.
Primary products
- Opdivo (nivolumab)
- Opdivo Qvantig (nivolumab and hyaluronidase-nvhy)
- Orencia (abatacept)
- Yervoy (ipilimumab)
- Reblozyl (luspatercept-aamt)
- Breyanzi (lisocabtagene maraleucel)
Business segments
End markets
Geographies
Named competitors
“We believe our long-term competitive position depends upon our success in discovering and developing innovative, cost-effective products that serve unmet medical needs, along with our ability to manufacture products efficiently and to market them effectively in a highly competitive environment.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenues were relatively flat in 2025, with Growth Portfolio and Eliquis demand increases offset by generic erosion across the Legacy Portfolio and higher U.S. government channel rebates.
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