Key facts
- Bristol Myers raised its 2026 revenue forecast to $49.75 billion-$50.25 billion.
- The company lowered its 2026 EPS forecast to $6.35-$6.55.
- Third-quarter revenue beat expectations at $13.1 billion.
- Third-quarter adjusted earnings of $1.35 per share also beat expectations.
Bristol Myers Squibb raised its full-year revenue forecast on Thursday, citing strong sales of its newer medicines, but lowered its 2026 earnings per share projection due to a hefty acquisition-related charge. The US drugmaker said it now expects 2026 adjusted earnings of $6.35 to $6.55 per share on revenue of $49.75 billion to $50.25 billion, compared with previous estimates of $6.75 to $7.00 a share and $49 billion to $50 billion in revenue. The company took a charge of 60 cents in the quarter. Third-quarter revenue rose 7% to $13.1 billion, beating analysts' forecast of $12.75 billion, and quarterly adjusted earnings came in at $1.35 per share, ahead of expectations of $1.14. Sales of Bristol Myers' newer drugs rose 12% from a year earlier, driven by higher sales of products like cancer cell therapy Breyanzi and anemia drug Reblozyl. Sales of infused cancer immunotherapy Opdivo fell 6% to $2.37 billion, while sales of Qvantig, a newer subcutaneous version, more than tripled to $334 million. Sales of legacy medicines rose 1% cumulatively, including a 25% jump in sales of blood thinner Eliquis, which it shares with Pfizer. Bristol Myers is working with the FDA to resume enrollment in clinical trials of its experimental cell therapy zolacabtagene autoleucel in autoimmune diseases in early 2027, after a voluntary pause due to safety data review.