Description

Bristol-Myers’ $7.7 Billion Growth Portfolio: Can New Products Offset Legacy Declines?

Bristol-Myers Squibb Company reported third-quarter 2026 results marked by continued growth in its portfolio and progress across its pipeline, tempered by certain product-specific challenges and competitive pressures. Total revenue increased 7% year over year to $13.1 billion, with the growth portfolio expanding 12% to $7.7 billion. This growth was largely driven by strong performances from key products including Reblozyl, Breyanzi, Opdualag, Qvantig, and Camzyos. In particular, Eliquis revenue increased 26%, reflecting sustained demand and market share gains despite anticipated upcoming exclusivity losses in Europe. Oncology product Opdivo saw a 6% revenue decline, attributed mainly to ongoing conversion to the newer Qvantig, which itself showed robust growth, now annualizing at over $1.3 billion. The company received FDA approval for Camzyos in pediatric obstructive hypertrophic cardiomyopathy and launched Symvexis, the first approved CELMoD for multiple myeloma, showing promising early adoption and feedback from both community and academic physicians.