Bristol-Myers Squibb Statistics By Facts, Revenue, Research And Development Spending, EBIT And Stock Chart
Maitrayee Dey
Updated · Nov 15, 2024
WHAT WE HAVE ON THIS PAGE
- Introduction
- Editor’s Choice
- Bristol-Myers Squibb Key Facts
- Bristol-Myers Squibb Revenue
- Top Leading Pharmaceutical Company Revenue
- Bristol-Myers Squibb Research And Development Spending
- Bristol-Myers Squibb EBIT
- Bristol-Myers Squibb Stock Chart
- Bristol Myers Squibb Reports Solid Q2 2024 Results And Strategic Progress
- Leadership Changes, Financial Setbacks, And Restructuring
- Bristol-Myers Squibb, Number Of Employees
- Bristol Myers Squibb Cashflow Growth
- Conclusion
Introduction
Bristol-Myers Squibb Statistics: Bristol-Myers Squibb is a transnational pharmaceutical corporation that focuses on the discovery, development, and delivery of innovative medicines for cancer, cardiovascular, and immunology diseases, where BMS possesses a mainstream prominent stake. During the year under review, BMS recorded an impressive financial performance, exhibited systematic expansion in the area of research and development, and claimed to have a substantial presence in the market around the globe in the year 2024.
The aim of this article is to provide detailed Bristol-Myers Squibb statistics concerning the company in terms of revenues, market share, research and development expenditures, and the range of products.
Editor’s Choice
- According to Bristol-Myers Squibb statistics, the company has reached a revenue of $45 billion in the year 2023.
- Bristol-Myers Squibb (BMS) experienced notable growth in revenues between the years 2015 and 2020, especially from its “Prioritized Brands” division, which exceeded $40 billion in revenues by 2020.
- BMS forecasts that in the year 2026, its two products, Eliquis (an anticoagulant) and Opdivo (an immunotherapy drug for tumors), shall rank in the top ten selling pharmaceutical products in the revenue of the United States at $7.8 billion and $6.1 billion respectively.
- In the calendar year 2023, BMS spent $9.3 billion on R&D, thereby demonstrating its desire to keep on innovating, especially after the Celgene acquisition was finalized the previous year in 2019.
- Looking at the monetary elements, the company BMS achieved a high EBIT of $8.4 billion in the year 2023, underscoring the effective operational capabilities and financial strength of this multinational pharmaceutical firm.
- The stock prices of BMS (ticker BMY) experienced very many fluctuations between November 2020 and June 2024, with major increases in 2020 and 2021, before they overall went down in trend from the end of 2022 to the year 2024, caused by both seasonal and yearly changes.
- Recent Bristol-Myers Squibb statistics reveal that in its Q2 2024 performance report, BMS announced that its revenues registered a 9% growth, translating to $12.2 billion, mainly driven by growth in Eliquis and other U.S. portfolios of the company.
- Even though U.S. revenues increased by 13% to reach $8.8 billion, there was a 1% decline in revenues from the rest of the world as a result of the effects of foreign exchange rates and reduced sales of Revlimid.
- Bristol-Myers Squibb statistics show that Year-on-year analysis of the GAAP EPS indicated that it reduced from $0.99 in Q2 2023 to $0.83 in Q2 2024, whereas the non-GAAP gross margin improvement was attributed to a better product mix. On June 18, BMS appointed former Agilent Technologies CEO Michael R. McMullen to its board of directors.
- In Q1 2024, due to high-interest expenses and other costs, BMS announced a loss of $8.9 billion, and due to this, a restructuring plan was implemented to reduce costs by $1.5 billion by the end of 2025, which also involved laying off more than 2200 employees.
- In 2023, BMS’s total employment declined nominally by 0.58% compared to the previous year’s figure and stood at 34100 after maintaining a steady increase from 2020 to 2022.
- The dedication to enhancing shareholders’ value is emphasised by the company’s plans of $3 billion share buyback, $5 billion accelerated share repurchases, and a 4.6% dividend yield.
- As of December 31, 2022, the BMS P/E ratio was 6.85, which is among the lowest for the global pharmaceutical sector.
Bristol-Myers Squibb Key Facts
- Bristol-Myers Squibb (BMS) is one of the major biopharmaceutical companies in the world, operating from New York City, and the seventh biggest pharmaceutical company in the world in terms of prescription drug revenues.
- Bristol-Myers Squibb statistics indicate that there was a tremendous increase in revenue during the years 2019 – 2020. It increased from $26.1 billion to $42.5 billion, the main reason being the acquisition of Celgene, a biotech company focused on immunology and oncology.
- Even now, this acquisition is hailed as one of the most prominent M&A activities within the pharmaceutical sector because it added to BMS’s portfolio Revlimid, which is known to be one of the leading cancer drugs.
- The current form of Bristol-Myers Squibb was established in 1989 with the merger of the Squibb Corporation, based in Brooklyn, and the Bristol-Myers Corporation, based in Clinton, New York.
- The two merging entities were well established as they ran their operations long before the 20th century started. In particular, the Squibb Corporation was established in 1858 and soon became one of the leading suppliers of medical supplies to the Union Army during the Civil War.
- Despite the fact that BMS’s acquisition of Celgene was predicted for a long time, this transformation was not achieved due to such factors as a patent cliff and the pandemic, as well as the failure of two outstanding candidate CAR T-cell therapies.
- The need to acquire Celgene was further compounded by the fact that BMS needed to bring the Revlimid franchise under its fold.
- In the recent past, BMS’s contribution has particularly been influenced by their branded product Revlimid, which has become the company’s highest-grossing selling drug.
- Nonetheless, upon the expiry of its patent protection, Revlimid’s revenue collapsed from a peak of more than US$12 billion in 2021 to approximately US$6 billion in 2023.
- Recent Bristol-Myers Squibb statistics reveal that the company Corporation’s best-selling drug is Eliquis, an anticoagulant agent, which was co-developed with Pfizer and approved for use in 2012.
- Another essential oncological product for Bristol-Myers Squibb, Opdivo, is expected to be among the leading drug sales worldwide.
- However, it will compete against heavy competition from Merck & Co.’s Keytruda, an anti-cancer agent.
Bristol-Myers Squibb Revenue
(Reference: statista.com)
- Bristol-Myers Squibb statistics show that from 2015 to 2020, the revenues of Bristol-Myers Squibb (BMS) increased significantly, especially in the extension termed “Prioritized Brands.” By 2020, this segment became responsible for the largest source of revenue for BMS, having brought in more than $40 billion.
- Prioritized Brands` is a term used to describe a few select products within the prodigious product range of BMS which the company has already concentrated on, mostly due to the existing markets for such products being relatively high and aggressive, for instance, the principal oncological drugs or other crucial medications.
- This increase is indicative of the company’s change in strategy, where BMS has decided to focus on a few core brands that can deliver higher and more consistent revenue per dollar invested into them and where a strong defensive strategy is in place.
- This transition was especially enhanced with the purchase of Celgene in 2019, which included high-performing products that were believed to be on the peak growing curve, particularly in the area of oncology.
Top Leading Pharmaceutical Company Revenue
(Reference: statista.com)
- Bristol-Myers Squibb estimates that their drugs, namely Eliquis and Opdivo, will rank among the ten pharmaceutical products with the highest revenues in the United States market by the year 2026.
- Bristol-Myers Squibb statistics reveal that Eliquis is an anticoagulant medication that prevents and treats blood clots. Its estimated revenue figures are roughly $7.8 billion, whereas Opdivo, an immunotherapeutic drug used chiefly in the treatment of a variety of cancers, is estimated to come closer to $6.1 billion.
- This projection relates to both the increased profitability of such medicines and their importance in the treatment of both common and critical health conditions that are consequently able to provide significant returns to BMS.
- No doubt, because of their sales performance, BMS is looking forward to a strong market presence for Eliquis and Opdivo alongside other leading drugs in the U.S. market.
Bristol-Myers Squibb Research And Development Spending
(Reference: statista.com)
- Bristol-Myers Squibb statistics data examines the research and development (R&D) investment of Bristol-Myers Squibb for the period between the years 2015 and 2023.
- In the year 2023, the company BMS devoted funds approximating $9.3 billion dollars towards research and development activities.
- BMS is headquartered in New York City and is well known as one of the largest pharmaceutical firms in the world.
- In April 2019, BMS confirmed the acquisition of Celgene, a transaction that was later completed in November of the same year — one of the largest pharmaceutical mergers in the last few years.
Bristol-Myers Squibb EBIT
(Reference: statista.com)
- Bristol-Myers Squibb statistics illustrate the earnings before interest and tax (EBIT) of Bristol-Myers Squibb (BMS) from the year 2015 until 2023.
- In 2023, BMS posted an EBIT of about $8.4 billion. EBIT is a useful indicator of a company’s operational performance if any tax deductions are factored in, giving one an understanding of the earnings that arise from more or less out-of-the-ordinary business activities.
- This demonstrates BMS’s strong metrics as a New York-based multinational pharmaceutical company.
- Interpreting this is easy; numbers like this represent BMS’s profits, which are quite remarkable, and the reasons for them are very positive – the company is doing well, and its business prospects are bright.
Bristol-Myers Squibb Stock Chart
(Reference: netcials.com)
- There were seasonal plus annual variances in the stock prices of Bristol Meyers Squibb (BMY) from November 2020 to June 2024. First, as of 2019, during September, the average price of BMY stood at $41.56 and grew to $52.73 by the end of the following December.
- March 2020 saw the prices fall to $46.34, but once again, in June 2020, the prices increased to $50.32. This July upward trend continued in September and even in December 2020, with averages at $51.53 and $53.85, respectively.
- However, in June of that year, the average price went all the way up to $58.62, making it the highest average price for that year.
- However, in December of that same year (2021), it had fallen to $53.84. The rise in prices was evident once again as winter was coming to an end, with the most notable growth occurring to $64.05 in March and a further $69.54 in June.
- The average price recorded the average price recorded in December 2022 was the highest at $70.71. after this average price is reached, the average price starts to drop slowly over time, reaching $63.39 by March 2023, $61.39 by June 2023, and $49.07 in December 2023.
- In 2024, the figures hovered around low levels, standing at average prices of $51.19 and $41.09 in March and June, respectively.
- The trend in the above data shows changes in BMY stock performance in both quarterly and yearly time frames.
Bristol Myers Squibb Reports Solid Q2 2024 Results And Strategic Progress
- For the quarter that ended on June 30, 2024, Bristol Myers Squibb (BMS) announced an increase in revenues of 9%, equating to $12.2 billion or 11% on a constant currency basis, higher than $11.2 billion reported in Q2 of 2023.
- Bristol-Myers Squibb statistics show that in the U.S. market, revenues grew by 13% to $8.8 billion, driven by growth and legacy portfolio.
- However, international revenues marginally declined by 1% to $3.4 billion. This was partly because of foreign exchange losses, which were at 7%, and a lesser contribution of Revlimid, although this was compensated for by contributions from the cancer drug Opdivo.
- For GAAP measures, earnings per share (EPS) dropped to an abysmal $0.83 from Q2 2023’s $0.99 benchmark, with the GAAP gross margin plunging from 74.4% to 73.2% on account of an impairment charge following the re-evaluation of product rights.
- On the other hand, non-GAAP gross margin increased from 75.0% to 75.6% due to a positive product mix.
- The company now anticipates that total revenues will be at the high end of low single-digit growth, higher than the previous guidance for 2024, and it has lowered its expectations of diluted EPS to range between $0.6- $0.9.
Leadership Changes, Financial Setbacks, And Restructuring
- Bristol Myers Squibb (BMS) announced on June 18 the appointment of Michael R. McMullen to the board of Directors. Michael McMullen is an ex-Agilent Technologies Chief Executive Officer.
- BMS is scheduled to announce the financial outcome for the second quarter of the year on July 26, with the market looking forward to how the results will reflect the growth in its novel treatment options.
- Nevertheless, BMS also had some severe Draw towards its potential earnings in the first quarter of the year 2024, experiencing an $8.9 billion loss while that period of the prior year registered a $4.3 billion net income.
- The causes of the loss included an increase in interest expenses and other related costs.
- According to Bristol-Myers Squibb statistics, BMS provided a vision for radical changes within the company in two consecutive months, April and June, to achieve cost savings of $1.5 billion by the end of 2025.
- Plans include trimming sheet more than 2200 jobs in 2024, with approximately 860 jobs affected in Lawrenceville, NJ, where BMS operates.
- Such measures are aimed at reorganizing the business and alleviating the financial burden.
- Although there were financial losses in BMS operations, the company recorded an encouraging increase in revenues and more advancements in regulation in the first half of 2024.
- The enhanced restructuring strategy of the company, along with changes in the executive team, is aimed at improving the efficiencies and overall competitiveness of the company, with results from the second quarter financial results being looked up with hopes of positive results from these efforts.
Bristol-Myers Squibb, Number Of Employees
(Reference: macrotrends.net)
- The following Bristol-Myers Squibb statistics are the worldwide workforce figures for Bristol Myers Squibb (BMS) for the years 2020 to 2023, as presented in the data.
- In 2023, there were 34100 employees at BMS. This is a small decrease of 0.58% as compared to the figures for 2022.
- In 2022, the total number of employees in the company went up to 34300, which is a 6.52 increase from that of 2021.
- In 2021, BMS had a workforce of 32200, which was an increase of 6.45% compared to the year 2020.
- BMS employed 30250 persons in the year 2020, which was a rise of 0.83% compared to the previous year, 2019.
- This descriptive analysis points out that from 2020 to 2022, the workforce consistently grew in size, except for a small dip that occurred in 2023.
Bristol Myers Squibb Cashflow Growth
- Bristol-Myers Squibb (BMS) employs its favorable cash flow to undertake numerous initiatives, including mergers and acquisitions (M&A), that would promote sustainable growth as well as the interests of its shareholders.
- The Mirati Therapeutics acquisition, which is set to take place, will boost and diversify the oncology of BMS, which Bronx has positioned itself in some growing areas.
- Moreover, this expansion plan has been augmented by BMS’s recent deal with Karuna Therapeutics.
- To enhance the returns on investments to its shareholders, BMS also announced $3 billion worth of share purchases, besides $5 billion worth of Accelerated Share Repurchases (ASRs), together with a dividend yield of 4.6%, demonstrating the company’s desire to enhance shareholder wealth.
- As of December 31 2023, BMS shares traded at a price-to-earnings (P/E) multiple of 6.85 times, which was at the lower end of the range for global pharmaceutical companies.
Conclusion
In summing up, Bristol-Myers Squibb’s statistics exhibited impressive financial performance and strategic growth in the year 2024. However, the company was still able to record solid revenues, and significant R&D investments, and enhance returns to investors in the form of restructurings, share buybacks, and dividend payments. All these efforts, as well as in-demand products developed such as Eliquis and Opdivo, help to fortify BMS’s foothold in the market.
Sources
FAQ.
What were the main financial results achieved by Bristol-Myers Squibb over the year 2024?
In the year 2024, Bristol-Myers Squibb (BMS) continued with impressive revenue performance as Q2 revenues rose by 9% to USD 12.2 billion; this was, in particular, supported by Eliquis and other major products from the US portfolio. While the United States markets recorded significant positive growth, international revenues posted a minimal decline as a result of currency impact and lower sales of Revlimid.
How much money goes for the research and development of Bristol-Myers Squibb?
In the year 2023, the company BMS reported an R&D spending of 9.3 billion dollars, signalling its intolerance to stagnation growth, most notably in the fields of oncology and immunology. Such strategies are also in line with the company’s policy of targeting regions with areas of high growth potential following the purchase of Celgene in 2019, which introduced key products such as Revlimid into the company’s portfolio.
What are the retention and forecasted revenues for BMS’s top drugs?
Eliquis, an anticoagulant, and Opdivo, an anti-cancer drug, are key products of BMS that will feature tenth on the list of the highest-selling drugs in the US within 5 years with expected sales of 7.8 billion and 6.1 billion, respectively.
In what ways Did the acquisition of Celgene affect Bristol-Myers Squibb?
The acquisition of Celgene in 2019 proved to be a game changer for BMS, increasing the revenues significantly by adding important oncology and immunology drugs like Revlimid into its arsenal. Even though Revlimid turned out to be a drug with high revenues, the revenues have been decreasing from upwards of $12 billion in 2021 to roughly $6 billion in 2023, owing to the loss of the patent.
What measures is BMS employing to improve shareholder value?
Bristol-Myers Squibb intends to increase shareholders’ value through various strategies, including a share repurchase of $3 billion, $5 billion in share buybacks executed earlier than expected, and a dividend yield of 4.6%.
Maitrayee Dey
Maitrayee, after completing her graduation in Electrical Engineering, transitioned into the world of writing following a series of technical roles. She specializes in technology and Artificial Intelligence, bringing her experience as an Academic Research Analyst and Freelance Writer, with a focus on education and healthcare under the Australian system. From an early age, writing and painting have been her passions, leading her to pursue a full-time career in writing. In addition to her professional endeavors, Maitrayee also manages a YouTube channel dedicated to cooking.
