Bristol-Myers Q4 Revenue $12.5B, EPS $1.26 as Growth Portfolio Jumps 16%
Bristol-Myers Squibb’s fourth-quarter revenue rose 1% to $12.5 billion with EPS of $1.26, driven by a 16% increase in Growth Portfolio revenues to $7.4 billion. Full-year sales reached $48.2 billion as Growth Portfolio jumped 17% to $26.4 billion, led by Breyanzi (+82%) and Camzyos (+77%) with pivotal pipeline readouts pending.
1. Strong Q4 Performance
Fourth-quarter revenue climbed 1% to $12.5 billion, with EPS reaching $1.26, both topping consensus. Growth Portfolio revenues expanded 16% to $7.4 billion, offsetting headwinds from legacy products.
2. Robust Full-Year Growth
Full-year revenues totaled $48.2 billion, underpinned by a 17% increase in Growth Portfolio sales to $26.4 billion. This gain reflects sustained demand across oncology, immunology and cardiovascular franchises.
3. Key Drug Drivers
Immuno-oncology assets led gains, with Breyanzi sales surging 82% and Camzyos jumping 77%. Eliquis sales provided near-term support ahead of expected patent expirations.
4. Analyst Outlook and Pipeline Catalysts
Bernstein SocGen maintained a Market Perform rating with a $58 price target, while Wells Fargo raised its target to $60. Analysts cite multiple pivotal 2026 readouts for Cobenfy, Milvexian, Admilparant and CELMoDs as potential catalysts.