Bristol-Myers Squibb Outperforms Novartis Amid CAR-T Safety Concerns and Strong Financial Momentum
On September 1, 2026, Novartis AG (NVS) suspended eight clinical trials for its experimental CAR-T therapy rap-cel after three patients died from severe immune reactions. Bristol-Myers Squibb Company (BMY), in response to safety concerns across the sector, also paused trials of zola-cel as a precautionary measure due to inflammatory side effects. In Q2 2026 earnings reports, BMY demonstrated stronger financial performance compared to NVS. BMY reported $13 billion in revenue with a 6% year-over-year increase and raised its full-year guidance for both revenue ($49–$50 billion) and non-GAAP EPS ($6.75–$7). In contrast, Novartis saw flat core operating income at $5.9 billion and reaffirmed rather than increased its annual sales growth forecast. BMY's Growth Portfolio is driving double-digit expansion led by products like Opdivo and Reblozyl, while NVS faces challenges from generic competition that reduced top-line growth by 14 percentage points.
Topics: CAR-T therapy clinical trial pauses earnings reports safety concerns