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Bristol Myers Squibb: Safer Blood Thinners, HCM Leadership & Neuroscience Expansion—What’s Driving The Story?

Bristol-Myers Squibb’s first quarter of 2026 demonstrated a moderate overall revenue increase of 1% year-over-year, reaching approximately $11.5 billion. The company’s growth portfolio experienced a more notable 9% rise, driven by key products such as Reblozyl, Breyanzi, Camzyos, Opdualag, Qvantig, and Cobenfy. Eliquis, a major product, posted a 13% revenue increase to around $4.1 billion despite price reductions implemented at the start of the year, reflecting strong demand albeit accompanied by wholesaler inventory adjustments. Conversely, Opdivo revenues declined 8%, primarily due to U.S. wholesaler inventory drawdowns and the ongoing shift toward Qvantig, whose launch showed positive traction with a 53% first-quarter growth. Clinical development progress featured prominently with several milestones. The FDA accepted the filing for iberdomide in relapsed or refractory multiple myeloma, granting it Breakthrough Therapy Designation and priority review, with a PDUFA date in August.