Bristol Myers Q1 Revenue Rises 3% to $11.5B; Eliquis Patent Cliff to Erode 98.6% by 2031
Bristol Myers posted Q1 revenue of $11.5B, up 3%, driven by a 12% rise in its growth portfolio to $6.2B, and reiterated 2026 guidance of $46–47.5B revenue and $6.05–6.35 adjusted EPS. Eliquis sales totaled $14.4B and face 98.6% decline after European exclusivity ends May 2026 and US expiry in 2028.
1. Q1 Financial Performance
Bristol Myers reported $11.5 billion in Q1 revenue, a 3% increase year-over-year, with its growth portfolio driving $6.2 billion of sales, up 12%. The company maintained its full-year 2026 guidance of $46–47.5 billion in revenue and $6.05–6.35 in adjusted earnings per share.
2. Eliquis Patent Cliff Forecast
Eliquis generated $14.4 billion in sales in 2025 but faces a steep revenue decline after European exclusivity ends in May 2026 and US patent expiry in 2028, with forecasts projecting a 98.6% erosion by 2031.
3. Strategic R&D and Productivity Initiatives
Bristol Myers is advancing a structural R&D transformation to identify lead molecules 50% faster and cut clinical cycle times by 30% through AI and automation. Concurrently, strategic productivity measures are on track to deliver $2 billion in cost savings by 2027, enabling reinvestment in high-potential growth assets.