How Does Bristol-Myers Squibb Make its Money?
Bristol-Myers Squibb is a global biopharmaceutical company focused on discovering, developing, and delivering medicines for patients with serious diseases. The company has built leadership positions in oncology, hematology, immunology, and cardiovascular disease. BMS made a transformative $74 billion acquisition of Celgene in 2019, adding blood cancer drugs Revlimid and Pomalyst. As Revlimid faces generic competition, BMS is pivoting to a new generation of growth drivers including Opdivo, Eliquis, and recently launched therapies like Camzyos and Sotyktu.
Bristol-Myers Squibb (BMY) Business Model
Bristol-Myers Squibb operates in the pharmaceuticals sector. Below is a summary of Bristol-Myers Squibb’s revenue streams, how the company generates income, and the key financial metrics from its most recent annual report. This breakdown uses data from Bristol-Myers Squibb’s 2024 fiscal year filings with the SEC.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Bristol-Myers Squibb Competitors
Bristol-Myers Squibb’s key competitors and comparable public companies in the pharmaceuticals sector include Merck, Pfizer, Eli Lilly, and Gilead Sciences. Each of these companies competes for market share, investor attention, and revenue in overlapping segments. See how Bristol-Myers Squibb stacks up by comparing their revenue breakdown, margins, and growth metrics.
Revenue Breakdown
| Segment | 2024 | 2023 | YoY Growth |
|---|---|---|---|
| Eliquis (blood thinner) | $12,900 | $12,200 | +5.7% |
| Opdivo (oncology) | $9,400 | $9,000 | +4.4% |
| Revlimid (blood cancer) | $3,900 | $5,700 | -31.6% |
| Pomalyst/Imnovid (blood cancer) | $2,400 | $2,700 | -11.1% |
| New Growth Portfolio (Camzyos, Sotyktu, Breyanzi) | $4,200 | $2,200 | +90.9% |
| Other Products | $14,200 | $14,600 | -2.7% |
| Total Revenue | $47,400 | $45,000 | +5.3% |
Eliquis (blood thinner) — 27% of Revenue
Opdivo (oncology) — 20% of Revenue
Revlimid (blood cancer) — 8% of Revenue
Pomalyst/Imnovid (blood cancer) — 5% of Revenue
New Growth Portfolio (Camzyos, Sotyktu, Breyanzi) — 9% of Revenue
Other Products — 30% of Revenue
Income Statement Overview
| Metric | 2024 | 2023 |
|---|---|---|
| Total Revenue | $47,400 | $45,000 |
| Cost of Revenue | $14,900 | $14,100 |
| Gross Profit | $32,500 | $30,900 |
| Operating Expenses | $20,800 | $19,300 |
| Operating Income | $11,700 | $11,600 |
| Net Income | $6,900 | $8,000 |
All values in millions USD unless otherwise stated.
Key Financial Metrics
- Gross Margin: 68.6%
- Operating Margin: 24.7%
- Revenue Growth: 5.3%
Is Bristol-Myers Squibb Profitable?
Yes, Bristol-Myers Squibb is profitable. The company reported net income of $6,900 on total revenue of $47,400. With an operating margin of 24.7%, Bristol-Myers Squibb demonstrates solid profitability for the pharmaceuticals sector. The gross margin of 68.6% reflects Bristol-Myers Squibb’s pricing power and cost structure.
What to Watch
- Eliquis patent expiration timeline and generic entry (expected 2026-2028)
- New growth portfolio ramp: Camzyos, Sotyktu, Breyanzi, and Opdualag
- Revlimid generic erosion pace and impact on overall revenue
- Pipeline readouts in neuroscience and immunology to drive next growth wave
Bristol-Myers Squibb (BMY) Financial Summary
Bristol-Myers Squibb (BMY) is a pharmaceuticals company that generated $47,400 in total revenue in fiscal year 2024. Revenue grew 5.3% year-over-year. The company earned $6,900 in net income, making it profitable. For a deeper look at Bristol-Myers Squibb’s revenue breakdown, business segments, and financial performance, review the detailed analysis above.