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BMYNYSE/health care

Bristol-Myers Squibb Company

$59.34Up+1,76 (+3,06%)
Research reviewed: 12 juil. 2026, 00:00 UTC
Research overview3-month price contextInvestment thesisKey catalystsLatest earnings researchRecent newsData and research sources

Research overview

Bristol-Myers Squibb Company operates in Pharmaceuticals within the health care sector. This profile tracks its company-specific earnings drivers, valuation conditions, and primary-source risks.

Открытие
57,90
Максимум
59,44
Минимум
57,54
Капитализация
121,18 млрд
P/E
16.62
Максимум за 52 недели
--
Дивиденд
4.380%
Квартальный дивиденд
--

3-month price context

Le graphique présente la tendance récente sur 3 mois afin de comprendre la structure court terme avant d’ouvrir le workspace complet.

Investment thesis

Base case
Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline. The base case remains conditional on loss of exclusivity staying manageable.
Bull case
Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline. Improved manufacturing and site expansion can increase patient throughput for Breyanzi and Abecma. Clinical and regulatory milestones can refresh the portfolio across oncology, immunology and neuroscience.
Bear case
Generic and biosimilar competition can accelerate declines in major legacy products. Clinical setbacks or slow launches could leave growth products unable to replace lost legacy revenue. Acquisition-related debt can constrain flexibility while integration and milestone payments consume cash.
Thesis invalidation
Reassess the thesis if generic and biosimilar competition can accelerate declines in major legacy products.

Key catalysts

  • Growth portfolio

    Opdivo, Camzyos, Sotyktu, Breyanzi and Reblozyl can offset part of the mature-brand decline.

  • Cell-therapy capacity

    Improved manufacturing and site expansion can increase patient throughput for Breyanzi and Abecma.

  • Late-stage pipeline

    Clinical and regulatory milestones can refresh the portfolio across oncology, immunology and neuroscience.

Principal risks

  • Loss of exclusivity

    Generic and biosimilar competition can accelerate declines in major legacy products.

  • Pipeline replacement risk

    Clinical setbacks or slow launches could leave growth products unable to replace lost legacy revenue.

  • Leverage and capital allocation

    Acquisition-related debt can constrain flexibility while integration and milestone payments consume cash.

Latest earnings research

Q1 2026

Bristol Myers Squibb's first-quarter 2026 update centered on growth-portfolio execution across oncology, hematology, immunology and cardiovascular products while legacy-product erosion and pipeline delivery remained central to the outlook.

Valuation interpretation

  • The valuation hinges on whether the growth portfolio can bridge a concentrated period of legacy-product exclusivity losses.
  • Pipeline value should be discounted for launch execution, clinical attrition and acquisition-related leverage.

Peer research

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Data and research sources

Research updated: 12 juil. 2026, 00:00 UTC
3 verified sources
Bristol Myers Squibb Reports First Quarter 2026 Financial ResultsBristol-Myers Squibb Company · earningsVerified

Fetched: 12/07/2026 0:00:00 UTC

Published: 23/04/2026 00:00:00

Open original source
Bristol-Myers Squibb Company Investor RelationsBristol-Myers Squibb Company · companyVerified

Fetched: 12/07/2026 0:00:00 UTC

Open original source
Bristol Myers Squibb SEC filings and company factsU.S. Securities and Exchange Commission · filingVerified

Fetched: 12/07/2026 0:00:00 UTC

Published: 23/04/2026 00:00:00

Open original source

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