The wait for major revenue growth in Bristol Myers Squibb Company’s portfolio requires a lot of patience since new indications for Opdivo (nivolumab) and newly approved drugs are slow to add significantly to the company’s top line. COVID-19 is also impacting product sales, BMS reported on 29 April, with Opdivo down 3% year-over-year in the first quarter, resulting in just 3% growth overall in BMS’s Q1 revenue to $11.07bn, which was slightly below analyst consensus of $11.15bn.
BMS Has A Lot Of Ground To Make Up Ahead Of Patent Expiries
Opdivo Has Another Down Quarter
Bristol Myers Squibb is struggling to restore Opdivo’s growth and COVID-19 sales impacts didn’t help in Q1. New indications are coming but new products, like Zeposia, are slow to add significant revenue.
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