BMS Revenues up 5% in the Quarter

Financial Report: Bristol-Myers Squibb
1Q Revenues: $11.6 billion (+5%)
1Q Earnings: $2.0 billion (+4%)
Comments: Growth in the quarter was primarily driven by Eliquis and Opdivo, and new product portfolio (primarily cell therapy products and Reblozyl), partially offset by recent loss of exclusivity for Revlimid and Abraxane, and foreign exchange impacts.
 
Eliquis revenues grew 11% to $3.2 billion. Opdivo revenues increased 12% to $1.9 billion driven by higher demand across multiple indications including the Opdivo+Yervoy  based combinations for non-small cell lung cancer (NSCLC), Opdivo+Cabometyx combination for kidney cancer, and Opdivo-based therapies for various gastric and esophageal cancers. 
 
New product portfolio revenues grew to $350 million compared to $161 million in 1Q21, driven by higher demand primarily relating to Abecma, Breyanzi and Reblozyl. Revlimid revenues declined by 5% to $2.8 billion. Abraxane revenues declined 32% to $214 million.