Bristol-Myers Squibb Co. (NYSE:BMY) shares are up on Thursday as the company reported its first-quarter financial results for 2026.
The U.S. large pharma company reported adjusted earnings of $1.58, beating the Wall Street estimate of $1.42.
Sales of $11.49 billion increased 3%, surpassing the consensus of $10.91 billion.
Growth Portfolio Strength Offsets Legacy Drag
- Growth Portfolio revenues of $6.2 billion increased 12%, or 9% Ex-FX (Camzyos, Breyanzi, and Reblozyl primarily drove revenue growth).
- Legacy Portfolio revenues of $5.3 billion decreased 6%, or 8% Ex-FX.
- The highest-revenue product, Eliquis, generated $4.14 billion in sales, up 16%.
- Sales of the cancer drug Opdivo decreased 5% to $2.15 billion.
- The arthritis drug Orencia generated sales of $818 million, up 6%.
- Sales of another cancer drug, Yervoy, increased 4% to $651 million.
- Adjusted gross margin decreased from 73.1% to 70.3%, reflecting a change in product mix.
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