Bristol-Myers Squibb Company (BMY) reports earnings

The filing reports total revenues of $48.3 billion, a 7% increase from the previous year, driven primarily by growth in the company's portfolio and sales of Eliquis.

U.S. revenues increased by 9% to $34.1 billion, while international revenues rose by 1% to $13.2 billion, offset by a 5% negative impact from foreign exchange.

Significant product approvals during 2024 included Breyanzi for various indications, Reblozyl's expanded approval, and FDA approval of Opdivo Qvantig.

The company completed acquisitions of Karuna, RayzeBio, and Mirati, enhancing its position in neuroscience and oncology.

Research and development expenses increased by 20% to $11.2 billion, reflecting investments in drug development and recent acquisitions.

Acquired IPRD expenses were $13.4 billion, primarily due to the acquisition of Karuna and the SystImmune collaboration.

Net loss for the year was $8.9 billion, primarily due to a one-time charge related to the Karuna acquisition.

The company reported a cash and cash equivalents balance of $10.3 billion as of December 31, 2024, with long-term debt totaling $47.6 billion.

Bristol-Myers Squibb anticipates continued growth in its portfolio and expects to deliver cost savings through strategic productivity initiatives.

This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Bristol-Myers Squibb Company annual 10-K report dated February 12, 2025. To report an error, please email [email protected].