Overview
Bristol Myers Squibb is a global biopharmaceutical company focused on discovering, developing, licensing, manufacturing, marketing, distributing and selling prescription medicines, and it operates as a single business segment on a worldwide basis [1]. Its strategy and portfolio are centered on serious diseases, with core therapeutic areas including oncology, hematology, immunology, cardiovascular disease and neuroscience [1][2]. The company states that its mission is to “discover, develop and deliver innovative medicines that help patients prevail over serious diseases” [3]. Key products that help define the business include Opdivo, Yervoy, Opdualag, Reblozyl, Breyanzi, Camzyos and Cobenfy [4][5].
Bristol Myers Squibb sells its products worldwide, supported by significant manufacturing operations in the United States, Puerto Rico, Switzerland, Ireland and the Netherlands, and by operations outside the U.S. through subsidiaries and distributors [6][7]. In 2024, the company generated $48.3 billion in total revenues, with 71% of revenue coming from the U.S., 27% from international markets and 2% from other sources [8][9]. As of December 31, 2024, it employed approximately 34,100 people across 43 countries, underscoring its scale as a large multinational pharmaceutical company [10]. [1][2][3][4][5][6][7][8][9][10]
Products & services
Bristol Myers Squibb’s product portfolio includes small-molecule drugs, biologics, CAR-T cell therapies, antibody-based immuno-oncology combinations, and radiopharmaceutical therapeutics; small molecules are typically oral, biologics are generally injected or infused, and CAR-T therapies are administered by intravenous infusion.[11] In 2024, its growth portfolio generated $22.6 billion, or about 46.7% of total revenue, while its legacy portfolio generated $25.7 billion, or about 53.3%.[12] The largest individual products were Eliquis at $13.3 billion, or about 27.6% of revenue, Opdivo at $9.3 billion, or 19.3%, Revlimid at $5.8 billion, or 12.0%, Orencia at $3.7 billion, or 7.6%, and Pomalyst/Imnovid at $3.5 billion, or 7.3%.[12]
Major established products include Eliquis (apixaban), an oral Factor Xa inhibitor for reducing the risk of stroke/systemic embolism in nonvalvular atrial fibrillation and for treatment and recurrence reduction in DVT/PE; Opdivo (nivolumab), a fully human monoclonal antibody targeting PD-1 and used across multiple cancers; Opdivo Qvantig, a subcutaneous nivolumab plus hyaluronidase formulation for most previously approved adult solid-tumor Opdivo uses; Yervoy (ipilimumab), a CTLA4 immune checkpoint inhibitor used in melanoma and in combination regimens across several tumor types; Orencia (abatacept), a fusion-protein biologic for rheumatoid arthritis, psoriatic arthritis, certain pediatric polyarticular JIA, and acute graft-versus-host disease; Revlimid (lenalidomide), an oral immunomodulatory drug for multiple myeloma and other hematologic malignancies; and Pomalyst/Imnovid (pomalidomide), an oral small molecule for multiple myeloma after prior therapies.[13][14][15][16][17][18][19] Other legacy oncology products include Sprycel (dasatinib), an oral multi-tyrosine kinase inhibitor for Philadelphia chromosome-positive chronic myeloid leukemia, and Abraxane, a solvent-free albumin-bound paclitaxel chemotherapy based on Nab technology for breast, non-small cell lung, and pancreatic cancers.[20][21]
Newer and specialty products include Reblozyl, an erythroid maturation agent for anemia in beta thalassemia and lower-risk myelodysplastic syndromes; Opdualag, a nivolumab/relatlimab combination providing PD-1 and LAG-3 blockade for unresectable or metastatic melanoma; Abecma and Breyanzi, autologous CAR-T therapies directed at BCMA and CD19, respectively; Camzyos, a cardiac myosin inhibitor for symptomatic obstructive hypertrophic cardiomyopathy; Sotyktu, an oral selective allosteric TYK2 inhibitor for moderate-to-severe plaque psoriasis; Zeposia, an oral immunomodulator for relapsing multiple sclerosis and ulcerative colitis; Krazati, an oral KRASG12C inhibitor for KRASG12C-mutated NSCLC and CRC; Augtyro, a kinase inhibitor for ROS1-positive NSCLC and NTRK fusion-positive solid tumors; and Cobenfy, a combination M1/M4 muscarinic receptor agonist and muscarinic antagonist for schizophrenia in adults.[22][23][24][25][26][27][28][29][30][31] In 2024, these products ranged from Reblozyl at $1.8 billion and 3.7% of revenue to Opdualag at $928 million and 1.9%, Breyanzi at $747 million and 1.5%, Camzyos at $602 million and 1.2%, Zeposia at $566 million and 1.2%, Abecma at $406 million and 0.8%, Sotyktu at $246 million and 0.5%, Krazati at $126 million and 0.3%, Augtyro at $38 million and 0.1%, and Cobenfy at $10 million.[12] [11][12][13][14][15][16][17][18][19][20][21][22][23][24][25][26][27][28][29][30][31]
Geographic presence
Bristol Myers Squibb operates globally, with principal executive offices in Princeton, New Jersey, and significant operations outside the United States conducted through subsidiaries and distributors.[32][33][7] Its manufacturing footprint is specifically described as significant in the U.S., Puerto Rico, Switzerland, Ireland, and the Netherlands.[6]
In 2024, Bristol Myers Squibb’s revenue was geographically concentrated in the United States, which accounted for 71% of total revenue, while International markets accounted for 27% and Other revenue sources accounted for 2%.[6] The company notes that Puerto Rico was reclassified into International in 2024 to align with management reporting, and that “Other” consists of royalties and alliance-related revenues that are not sold by its regional commercial organizations.[34][35][36] Outside the U.S., the company indicates that it does not separately disclose country-level revenue beyond the U.S., EU, and Japan because no other individual country is significant.[37]
As of December 31, 2024, Bristol Myers Squibb employed approximately 34,100 people across 43 countries, with about 57% located in the U.S. excluding Puerto Rico and 43% located outside the U.S.[10] [32][33][7][6][34][35][36][37][10]
Business segments
Bristol Myers Squibb does not report multiple business segments. It states that it operates in a single reportable segment covering the discovery, development, licensing, manufacturing, marketing, distribution and sale of innovative medicines, with the CEO managing the business and allocating resources at a consolidated corporate level rather than on a product or franchise basis; on that basis, the sole reportable segment represents essentially 100% of segment results. Management says resources are deployed across functions, therapeutic areas, regional commercial organizations and R&D projects, rather than through separately reported operating segments.[38]
Although not reported as separate operating segments, Bristol Myers Squibb describes its core therapeutic focus areas as oncology and hematology, immunology, cardiovascular, and neuroscience. Within those areas, the company highlights modalities such as cell therapies, protein degraders, ADCs and radiopharmaceuticals in oncology/hematology; pulmonology, dermatology and rheumatology programs in immunology; thrombotic diseases, heart failure and cardiomyopathies in cardiovascular; and neuropsychiatry and neurodegeneration in neuroscience.[39]
A secondary portfolio view used in revenue disclosure divides the business into a Growth Portfolio and a Legacy Portfolio rather than formal reportable segments. In 2024, the Growth Portfolio generated $22.6 billion, about 46.7% of total revenue, while the Legacy Portfolio generated $25.7 billion, about 53.3%. The largest components of the Growth Portfolio included Opdivo, Orencia and Yervoy, while the Legacy Portfolio was led by Eliquis, Revlimid and Pomalyst/Imnovid.[12][40]
The company also provides a geographic revenue view through its regional commercial organizations. For 2024, U.S. revenue was $34.1 billion, about 70.6% of total revenue, International revenue was $13.2 billion, about 27.3%, and Other revenues were $1.0 billion, about 2.1%; the “Other” category consists mainly of royalties and alliance-related revenues for products not sold by regional commercial organizations.[41][42] [38][39][12][40][41][42]
Company history
Bristol Myers Squibb traces its roots to two predecessor companies: E.R. Squibb & Sons, founded by Edward R. Squibb in 1858, and Bristol-Myers, founded by William Bristol and John Myers in 1887. Those businesses were brought together in 1989 through the merger of Squibb and Bristol-Myers, creating Bristol-Myers Squibb as a single company.[43][44]
In the following decades, the company expanded through acquisitions and new medicines. Bristol-Myers Squibb acquired DuPont Pharmaceuticals in 2001, adding assets that later contributed to its cardiovascular portfolio.[45] Major product milestones included the FDA approval of Yervoy in 2011, Eliquis in 2012, and Opdivo in 2014, reflecting the company’s growing position in oncology and cardiovascular medicine.[46][47][48] In 2019, the company completed its acquisition of Celgene, a major step that significantly broadened its scale and product portfolio.[49] [43][44][45][46][47][48][49]
Sources
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