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Focus On Execution Pays Off, Sets BMS Up For Growth In 2023

Sales Of Nine New Drugs Set To Double From 2022 Total

 
• By Mandy Jackson

Revenue declined in 2022 but the company expects it to increase 2% this year, offsetting an anticipated $3.5bn drop in Revlimid sales as new launches generate $4bn in 2023.  

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BMS expects to reverse its 2022 revenue decline with 2% growth in 2023 • Source: Shutterstock

Bristol Myers Squibb Company's total revenue fell 5% to $11.4bn in the fourth quarter and declined 0.5% to $46.2bn for 2022 in the first year of limited US generics launches for its multiple myeloma drug Revlimid (lenalidomide). But the big pharma focused on launching nine products during the past three years to replace that revenue, and in 2023 – the second year of limited generics – BMS expects those new drugs to not only fill the Revlimid gap but also play a role in 2% overall revenue growth.

The company reported its fourth quarter sales and earnings on 2 February, beating analyst consensus expectations of $11.2bn in Q4...

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