Analysts Forecast BMY Revenues to Drop from Generic Competition

Bristol-Myers Squibb (NYSE: BMY), a key player in the global market for cancer, immunology and anti-coagulation treatments, is projected to see revenue decline in 2023 as the company’s popular blood cancer drug Revlimid sees sales plummet due to generic competition. According to Visible Alpha consensus, the pharmaceutical company overall is expected to bring in $44.8 billion in revenue in 2023, down -3% from $46.2 billion in 2022. The drop in total revenue is mainly attributed to a projected -40% decline in revenue from Revlimid to an estimated $6 billion in 2023. Revenue from the company’s metastatic breast cancer and pancreatic cancer drug Abraxane is also projected to drop in the forecast period. Both Revlimid and Abraxane lost exclusivity in 2022.

Beyond 2026, analysts anticipate that Bristol-Myers Squibb’s current drugs and potential new launches may not adequately compensate for the decreased sales of Revlimid and Abraxane. Besides the loss in revenues from these cancer drugs, generic competition for the oral anticoagulant Eliquis, in partnership with Pfizer (NYSE: PFE), is also expected to contribute to a drop in revenue projections beginning in 2028. Visible Alpha consensus estimates project Eliquis revenues dropping from $12.2 billion in 2023 to $6.0 billion in 2028.

Sector: Health Care
Industry: Pharmaceuticals
VA Ticker(s): BMY