BMS Focuses On Driving Future Growth As Revlimid Generic Launches Near

Bristol Myers Squibb Company reported $11.6bn in third quarter revenue that exceeded analyst consensus on 27 October, driven in part by newer product sales, which more than doubled from Q1 to Q3. The company, under pressure to produce significant revenue growth before mega-blockbuster Revlimid (lenalidomide) begins to face loss of exclusivity next year, also largely has seen success in its research and development pipeline since acquiring Celgene Corporation at the end of 2019 despite some initial stumbles.

Volume-limited Revlimid generics will begin to launch in the US in 2022 along with generics in some ex-US markets. The Celgene acquisition brought the multiple myeloma drug – now Bristol’s top-selling product with $3.35bn in Q3 sales, up 11% from the same quarter in 2020 – along with an increased need for the company to grow and diversify its revenue. The transaction also brought a pipeline of recently approved drugs and late-stage R&D programs that has added six new products to the BMS commercial portfolio to date