BMS Earnings Beat Estimates, But Opdivo Sales Slide Continues

The company believes the PD-1 inhibitor’s recent declines will be reversed through new indications, providing revenue growth along with other new products by the time Revlimid faces generics in 2022.

Financial Report
Opdivo sales have declined, but are expected to rise in 2021

Bristol-Myers Squibb Co. reported its third consecutive quarter of declining Opdivo (nivolumab) sales in the US, and second consecutive quarterly sales decline globally, on 6 February. As a result, executives spent most of the company’s earnings call explaining that Bristol-Myers expects its PD-1 inhibitor to return to growth through new indications before Revlimid (lenalidomide) – acquired in the recently closed $76bn acquisition of Celgene Corp. – begins to face generics in 2022.

Opdivo continues to be overshadowed by Merck & Co. Inc.’s competing PD-1 inhibitor Keytruda (pembrolizumab), which dominates the first-line...

Read the full article – start your free trial today!

Join thousands of industry professionals who rely on Scrip for daily insights

  • Start your 7-day free trial
  • Explore trusted news, analysis, and insights
  • Access comprehensive global coverage
  • Enjoy instant access – no credit card required

More from Earnings

Loss Of Exclusivity Product Launches To Fuel Aurobindo’s FY26 Europe Growth

 
• By 

Aurobindo is banking on launches of loss of exclusivity products and biosimilars to fuel sales in Europe as it awaits a US announcement on tariffs and predicts high single-digit growth overall during FY26 for now

Korea Q1 Roundup: Mixed Earnings, Gearing For Possible US Tariffs

 
• By 

South Korean biopharma companies report a mostly solid first quarter, marked by US growth for original drugs, with several also making preparations for possible US pharma tariffs.

Sun On Leqselvi US Launch Ahead, MFN Pricing And Pipeline Changes

 

Sun readies US debut of Leqselvi for alopecia areata, while PD-L1 inhibitor Unloxcyt is in the line up once the Checkpoint Therapeutics deal is completed. Management also discusses limited clarity on President Trump’s most favored nation pricing push, pipeline tweaks and M&A outlook.

Stock Watch: Q1 Sales Trends And Forex Muddle Pharma Outlook

 
• By 

Pharma firms tended to downplay first-quarter trends in full-year guidance. However, raised guidance seems fragile amid ongoing foreign exchange effects and Medicare Part D redesign pressures.

More from Business

Quick Listen: Scrip’s Five Must-Know Things

 
• By 

In this week's episode: Sanofi’s Blueprint buy; AstraZeneca’s breast cancer resistance results at ASCO; BMS and BioNTech’s big bispecific deal; Kymera’s Dupixent in a pill; and Degron’s CEO on pipeline and strategy.

Chinese Biotech VC/PE Fundings Rise But Still Modest

 

LTZ Therapeutics and Beijing Sungen Biomedical are among the Chinese biotechs raising new funding, of around $40m each, based on their clinical assets with novel mechanisms of action. While fundings have risen, they remain moderate however.

Otsuka’s IgAN Data Top Some Vera Results, But To What End?

 
• By 

Otsuka bested Vera on Phase III immunoglobulin A nephropathy data for proteinuria, but analysts wonder if the difference is especially meaningful.