Bristol Myers Squibb Expects New Schizophrenia Treatment To Boost Long-Term Growth, Analysts Remain Cautious

On Thursday, Bristol Myers Squibb & Co (NYSE:BMY) posted third-quarter revenues of $11.89 billion, beating the consensus of $11.28 billion, an increase of 8% year-over-year, or 10% when adjusted for foreign exchange impacts, primarily driven by the Growth Portfolio and Eliquis.

Growth Portfolio worldwide revenues increased to $5.81 billion compared to $4.95 billion a year ago, representing growth of 18% on a reported basis or 20% when adjusted for foreign exchange impacts.

BMO Capital Markets appreciates a conservative approach in the neuropsych space, though it notes management’s reserved stance on revenue expectations. It highlights that significant revenue is not expected until the second half of 2025, with a ...