Bristol-Myers Squibb(US:BMY)2026-02-11 02:05Summary of BMS Q4 2025 and Full Year Performance Company Overview - The document discusses Bristol-Myers Squibb (BMS), a major player in the pharmaceutical industry, focusing on its Q4 2025 and full-year performance metrics. Key Financial Metrics - Q4 2025 Revenue: BMS achieved revenue of $12.5 billion, with growth portfolio sales at $7.4 billion (+15%) and legacy portfolio sales at $5.1 billion (-16%) [1] - Full Year 2025 Revenue: Total revenue for 2025 was $48.2 billion (-1%), with growth portfolio sales at $26.4 billion (+17%) and legacy portfolio sales at $21.8 billion (-16%) [1] 2026 Revenue Guidance - BMS updated its 2026 revenue guidance to a range of $46 billion to $47.5 billion (-5% to -1%) [2] - Non-GAAP EPS guidance was set between $6.05 and $6.35 per share [2] Product Performance Highlights Oncology - Opdivo (Nivolumab): Sales reached $2.69 billion (+7%), driven by volume growth and new approvals [2] - Yervoy (Ipilimumab): Sales were $810 million (+18%) [2] - Opdualag: Sales of $350 million (+37%), with a 30%+ market share in 1L melanoma in the US [2] Hematology - Revlimid (Lenalidomide): Sales dropped to $600 million (-55%) due to generic competition [2] - Pomalyst: Sales were $690 million (-16%) [2] - Reblozyl: Sales increased to $670 million (+21%), driven by demand for 1L treatment of MDS-related anemia [2] - Breyanzi: Sales reached $390 million (+47%), primarily driven by demand in LBCL [2] Cardiovascular - Eliquis (Apixaban): Sales were $3.45 billion (+6%), with US and ex-US sales growing by 4% and 9% respectively; 2026 global revenue growth is expected at 10% to 15% [3] - Camzyos: Sales of $350 million (+57%) [3] - Milvexian: Phase 3 clinical study terminated due to interim analysis not meeting efficacy [3] Immunology - Orencia (Abatacept): Sales remained stable at $1.01 billion [3] - Sotyktu: Sales of $86 million (+3%), with a PDUFA date for PsA indication set for March 6, 2026 [3] Neurology - Cobenfy: Sales of $51 million [3] - Zeposia: Sales of $160 million (-1%), primarily contributed by MS indication [3] Additional Insights - The document highlights the impact of generic competition on legacy products and the growth potential in the growth portfolio, particularly in oncology and cardiovascular segments [2][3] - The anticipated decline in revenue for Eliquis in 2027 is noted, with a projected drop of $1.5 billion to $2 billion [3]