Bristol Myers Squibb Q3 Revenue Grows 7% Driven by Expanding Growth Drug Portfolio
Bristol Myers Squibb (BMY) reported third-quarter revenue of $13.1 billion, a 7% increase year-over-year. This growth was primarily driven by the company's 'Growth Portfolio' of newer medicines, which rose 12% to $7.7 billion. Key contributors included Opdivo, Qvantig, and Breyanzi, providing much-needed momentum as the company prepares for future patent expirations on legacy products like Eliquis. While adjusted earnings per share fell 17% to $1.35, the decline is attributed to upfront costs associated with acquiring new drug candidates rather than a weakening core business. The company raised its 2026 revenue guidance to a range of $49.75 billion to $50.25 billion, signaling confidence in its long-term pipeline strategy despite the immediate impact of deal-related accounting charges.