Bristol Myers Squibb exceeded third-quarter revenue expectations, driven by strong performance in its Growth Portfolio and Eliquis. However, analysts are focused on the company’s pipeline, particularly the recent approval of Cobenfy, for long-term growth potential. While revenue from Cobenfy is not expected until the second half of 2025, the potential for Alzheimer’s psychosis treatment could boost sentiment. Despite the positive earnings, BMY stock is down Friday.
Bristol Myers Squibb (BMY) reported strong third-quarter earnings, exceeding revenue and earnings per share estimates. The company’s Growth Portfolio, particularly Reblozyl, Breyanzi, Camzyos, and Opdualag, drove significant growth. Eliquis sales also saw a substantial increase, while the Legacy Portfolio performed well despite generic competition for Sprycel. Bristol Myers Squibb is optimistic about the future, forecasting revenue growth and cost savings, and is currently launching its new schizophrenia treatment, Cobenfy.
