Companies · BMY
Bristol-Myers Squibb
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Latest analysis
Updated Jul 30, 2026
BMS raises FY2026 revenue guidance by ~$2.5B at midpoint as Growth Portfolio hits 15% quarterly growth, with two NDA acceptances and expanded AI partnerships signaling pipeline inflection.
Bristol-Myers Squibb's Q2 2026 results mark a decisive inflection point: Growth Portfolio revenues of $7.6 billion grew 15% year-over-year, driven by Camzyos (+60% WW), Breyanzi (+41%), and Reblozyl (+29%), enabling management to raise full-year non-GAAP revenue guidance to $49.0–$50.0 billion from $46.0–$47.5 billion. Two FDA NDA acceptances — mezigdomide (PDUFA May 2027) and Reblozyl in myelofibrosis — alongside a 13-program licensing deal with Hengrui Pharma and expanded NVIDIA/Anthropic AI infrastructure agreements collectively signal that BMS is executing simultaneously on near-term commercial momentum and mid-decade pipeline depth. Legacy Portfolio erosion in Revlimid (−49% WW) and Pomalyst (−71% WW) remains severe but is now structurally offset by Growth Portfolio scale at 58% of total Q2 revenue.
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
“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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