Category Archives: BMY

Bristol-Myers Squibb (BMY) 23Q3 Update

23Q3 net revenue decreased 2.2% to $11.0 billion, as a 41% drop in Revlimid sales, due to LOE, was not entirely offset by growth across the rest of the portfolio.  Revenues from newly launched products rose 79% YOY and 19% … Continue reading

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Bristol-Myers Squibb (BMY) 23Q2 Update

23Q2 net revenue dipped 5.6% to $11.2 billion, more than expected, mostly on a faster sales decline for Revlimid, which has lost exclusivity.  Opdivo sales rose at the slowest YOY pace since the early pandemic.  Revenues from newly launched products … Continue reading

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Bristol-Myers Squibb (BMY) 23Q1 Update

23Q1 revenues declined 2.7% to $11.3 billion, less than 22Q4’s decline, but were 3% higher than projected.  Sales of Eliquis rose 27.3% sequentially and 6.6% YOY to $3.4 billion.  Revlimid sales fell 22.6% and 37.4%, respectively, due to patent expiry.  … Continue reading

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Bristol-Myers Squibb (BMY) 22Q4 Update

22Q4 revenue declined 4.8% to $11.4 billion, more than 22Q3’s decline, mostly because of a drop in Revlimid sales due to patent expiry.  GAAP diluted EPS was $0.95, down from $1.07 last year but ahead of my estimate of $0.67, … Continue reading

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Bristol-Myers Squibb (BMY) 22Q3 Update

22Q3 revenue declined 3.5% to $11.2 billion, mostly because of a drop in Revlimid sales due to patent expiry.  GAAP EPS increased 8.5% to $0.75, but that was slightly below my estimate of $0.77, due mostly to a higher income … Continue reading

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Bristol-Myers Squibb (BMY) 22Q2 Update

22Q2 revenues were higher, GAAP earnings lower and non-GAAP earnings higher than anticipated.  Management reduced its 2022 revenue guidance by $1 million to $46 billion due to foreign currency headwinds.  It also lowered its GAAP EPS guidance, but left its … Continue reading

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Bristol-Myers Squibb Update

Raising 2022 Estimate and Adding 2023, Maintaining Outperform Rating and Price Target of $73 Bristol-Myers Squibb Company (BMS) achieved many operational milestones in 2021, advancing its development pipeline through clinical trials, new drug applications and regulatory approvals.  At its November … Continue reading

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Bristol-Myers Squibb: Initiating Coverage

Initiating Coverage with an Outperform Rating. Prospects Beyond 2022 are Favorable. With the acquisitions of Celgene in 2019 and MyoKardia in 2020, BMS has substantially transformed its business and repositioned for growth.  Drugs added to the portfolio from the two … Continue reading

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