Core Viewpoint - Bristol Myers Squibb (BMY) has shown strong performance in the biotech sector, with a notable increase in stock price and positive quarterly results driven by newer drugs and strategic acquisitions [1][2][3]. Financial Performance - BMY's stock has risen 20.1% over the past six months, significantly outperforming the industry growth of 5.3% [1]. - The company reported better-than-expected third-quarter results, leading to an increase in annual earnings guidance [2]. - The Zacks Consensus Estimate for 2024 earnings per share (EPS) has increased from $0.76 to $0.88 over the past 30 days [13]. Drug Portfolio and Growth Drivers - New drugs such as Reblozyl, Breyanzi, Camzyos, and Opdualag are crucial for stabilizing revenue as legacy drugs face generic competition [3][4]. - Opdualag has achieved a 30% market share in the first-line melanoma setting in the U.S., contributing significantly to revenue [4]. - The recent FDA approval of Cobenfy for schizophrenia expands BMY's portfolio and validates its acquisition strategy [6]. Strategic Acquisitions - BMY has made significant acquisitions, including Mirati Therapeutics for $4.8 billion, enhancing its oncology portfolio with Krazati [7]. - The acquisition of RayzeBio added a proprietary radiopharmaceutical platform to BMY's offerings [7]. Challenges and Competition - BMY's legacy drug Revlimid faces generic competition, impacting its sales despite a positive earnings report [8]. - Eliquis, a major revenue contributor, is expected to face generic competition later in the decade [9]. - Other drugs like Sprycel and Pomalyst are also encountering challenges due to generics [10]. Cost Management and Debt - A strategic cost-reduction plan aims to save approximately $1.5 billion by the end of 2025, focusing on long-term returns and operational optimization [11]. - As of September 30, 2024, BMY's total debt-to-total capital ratio was 74.3%, raising concerns about its financial leverage [12]. Valuation Metrics - BMY's shares currently trade at a price/earnings ratio of 8.63x forward earnings, lower than the large-cap pharma industry average of 17.57x [13]. Conclusion - The recent stock rally indicates potential for a turnaround for BMY, with newer drugs expected to drive future growth despite the challenges posed by generic competition [16].

Industry Overview - The biopharmaceutical sector showed signs of recovery in Q3 2024, with a 2% rise in the combined market capitalization of the top 20 global biopharmaceutical companies, reaching $4.3 trillion from $4.2 trillion in June [1] - Increased investor optimism was attributed to the U.S. Federal Reserve's interest rate cuts in September [1] - The industry's potential for growth is highlighted despite earlier challenges in the year [1] Company Performances - Bristol-Myers Squibb & Co (BMY) led the market with a 24.6% increase in capitalization, reaching $105 billion, driven by the FDA's approval of its antipsychotic drug, Cobenfy, for schizophrenia [2] - Gilead Sciences Inc (GILD) saw a 22.1% rise in market value, attributed to the accelerated FDA approval of Livdelzi for primary biliary cholangitis and Trodelvy for HR-/HER2- breast cancer in Japan [3] - Sanofi SA (SNY) experienced a 19.2% jump in market capitalization, largely due to the strong performance of its drug Dupixent and recent approvals for COPD [4] - AbbVie Inc (ABBV) reported a 15.2% increase in market cap, driven by the success of its immunology drugs, generating nearly $7 billion in Q2 2024 sales [5] - Alnylam Pharmaceuticals Inc (ALNY) joined the top 20 biopharmaceutical companies with a 14.9% rise in market value, following positive results for its RNAi drug vutrisiran [5] - Roche Holdings AG (RHHBY) saw a 13.8% growth in market capitalization, spurred by FDA approvals for Ocrevus Zunovo and Tecentriq Hybreza [6] Declines in Market Capitalization - Novo Nordisk A/S (NVO) experienced an 18.2% drop in market cap after the FDA rejected its BLA filing for insulin icodec [6] - Eli Lilly & Co (LLY) reported a slight decline of 2.1%, while maintaining leadership in diabetes and weight loss drugs [7] - Merck & Co Inc (MRK) faced an 8.2% fall in market value, largely due to disappointing sales of its HPV vaccine, Gardasil, in China [7] Analyst Insights - The biopharmaceutical industry is poised for recovery, driven by multiple FDA approvals that have led to rebounds in companies like Gilead Sciences and Bristol-Myers Squibb, which had previously seen declines in market capitalization [8]

29 August 2024, Bavaria, Munich: The logo of the pharmaceutical company Bristol-Myers Squibb, (BMS) ... [+] is seen on the facade of the company's Munich headquarters on August 29, 2024 in Munich (Bavaria). Photo: Matthias Balk/dpa (Photo by Matthias Balk/picture alliance via Getty Images)dpa/picture alliance via Getty ImagesBristol Myers Squibb (NYSE: BMY) recently reported its Q3 results, with revenues and earnings exceeding the street estimates. It reported revenue of $11.9 billion and adjusted earnings ...

With many of the Magnificent 7 stocks reporting earnings the week of October 28, investors’ attention was on technology stocks. But that means you may have overlooked two biopharmaceutical companies that delivered solid earnings reports.   Merck & Co. Inc. NYSE: MRK and The Bristol-Myers Squibb Co. NYSE: BMY beat analysts' estimates on the top and bottom lines. Revenue for both companies was higher than in the same quarter in 2023, but both companies reported lighter year-over-year earnings. For Bristol-Mye ...

Bristol-Myers Squibb Company (BMY) reported adjusted earnings per share (EPS) of $1.80 for the third quarter of 2024, which beat the Zacks Consensus Estimate of $1.49.  In the year-ago quarter, BMY had posted an adjusted EPS of $2.Total revenues of $11.9 billion surpassed the Zacks Consensus Estimate of $11.3 billion. The top line also increased 8% from the year-ago period’s level, primarily driven by a strong growth portfolio and an increase in Eliquis sales.BMY’s shares are trading up following the result ...

Financial Data and Key Metrics Changes - The growth portfolio revenues increased by 20% in Q3 at constant currency, now accounting for approximately half of total revenues [8][30] - Third quarter earnings per share were reported at $1.80, with a gross margin decline of about 130 basis points due to product mix [46][54] - The effective tax rate increased from 11.6% in the prior year to 18.5% due to a one-time adjustment [46] Business Line Data and Key Metrics Changes - Sales of Reblozyl grew by 81% in Q3, driven by strong demand in both U.S. and international markets [39] - Opdivo's global sales increased, reflecting solid demand growth outside the U.S., with expectations for mid-single-digit growth for the full year [34] - Camzyos sales more than doubled, driven by strong U.S. demand for new patient starts [38] Market Data and Key Metrics Changes - Eliquis, the leading anticoagulant worldwide, delivered double-digit sales growth in Q3, benefiting from higher demand and market share gains [36] - Opdualag achieved a 30% market share in first-line melanoma in the U.S. three years post-launch [35] - Sotyktu sales nearly doubled compared to the previous year, with growth driven by international market launches [41] Company Strategy and Development Direction - The company is focused on transformational medicines and aims to serve patients with first or best-in-class treatments across therapeutic areas [15] - The acquisition of Karuna Therapeutics is seen as a key strategy to strengthen long-term growth, particularly with the approval of Cobenfy [11] - The company is committed to paying down approximately $10 billion of debt by the first half of 2026 while maintaining its dividend [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ability to deliver long-term value for patients and shareholders, raising full-year revenue and EPS guidance [25][54] - The company is on track to achieve $1.5 billion in savings by the end of 2025, which will be reinvested into high ROI opportunities [19] - Management highlighted the importance of achieving broad access for Cobenfy, with expectations for sales ramp-up in the second half of 2025 [57] Other Important Information - The company is advancing its innovative pipeline, with several promising clinical programs and upcoming milestones [22][27] - The anticipated FDA approval for the subcutaneous formulation of nivolumab is expected to extend the company's leadership in immuno-oncology [23] - The company is exploring opportunities to further improve productivity and efficiency over the coming quarters [20] Q&A Session Summary Question: Access dynamics for Cobenfy post-approval - Management expects a ramp-up in sales in the second half of 2025, with access to be achieved in a step-wise fashion, particularly in Medicaid and Medicare [57][59] Question: 2025 top-line dynamics and operating expenses - Management is confident in achieving operating margin guidance of at least 37% for both this year and next year, with full line guidance to be provided in the fourth quarter earnings call [67] Question: Ramp-up expectations for Cobenfy and bipolar 1 opportunity - Management anticipates a second-half ramp for Cobenfy, with a high probability of success for the bipolar 1 study based on previous data [72][74] Question: Sotyktu pricing and access outlook - Management noted that Sotyktu's performance has been slower than expected, but access has improved significantly, with ongoing efforts to increase market share [79][81] Question: Milvexian trial event rate and risk profile - Management is encouraged by the lower event rate in the Milvexian trial, viewing it as a positive indicator for the program's potential [86][109]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ___________________________ FORM 10-Q ___________________________ ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______ to _______ Route 206 & Province Line Road, Princeton, New Jersey 08543 (Address of principal executive ...

Bristol Myers Squibb (BMY) reported $11.89 billion in revenue for the quarter ended September 2024, representing a year-over-year increase of 8.4%. EPS of $1.80 for the same period compares to $2.00 a year ago.The reported revenue represents a surprise of +5.07% over the Zacks Consensus Estimate of $11.32 billion. With the consensus EPS estimate being $1.49, the EPS surprise was +20.81%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations ...

Bristol Myers Squibb (BMY) came out with quarterly earnings of $1.80 per share, beating the Zacks Consensus Estimate of $1.49 per share. This compares to earnings of $2 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 20.81%. A quarter ago, it was expected that this biopharmaceutical company would post earnings of $1.64 per share when it actually produced earnings of $2.07, delivering a surprise of 26.22%.Over the last four qua ...

Exhibit 99.1 istol Myers Squibb® Bristol Myers Squibb Reports Third Quarter Financial Results for 2024 Performance Reflects Continued Focus on Near-Term Execution and Building a Foundation for Long-Term Sustainable Growth • Third Quarter Revenues were $11.9 Billion, increasing 8% (+10% Adjusting for Foreign Exchange) • Growth Portfolio Revenues were $5.8 Billion, increasing 18% (+20% Adjusting for Foreign Exchange) • GAAP EPS was $0.60 and Non-GAAP EPS was $1.80; Includes Net Impact of $(0.09) Per Share for ...