Bristol-Myers Squibb reported Q3 2024 revenues of $11.9 billion, up 8% year-over-year, driven by strong performance from its Growth Portfolio and Eliquis. Net earnings were $1.2 billion with diluted EPS of $0.60, compared to $1.9 billion and $0.93 EPS in Q3 2023. The Growth Portfolio, including Opdivo, Orencia and Yervoy, saw an 18% increase in revenue to $5.8 billion.The company achieved significant regulatory milestones, including FDA approval of Cobenfy for schizophrenia and expanded approvals for Breyanzi in multiple indications. Operating expenses increased primarily due to recent acquisitions, with R&D expenses up 6% to $2.4 billion and amortization of acquired intangible assets rising 7% to $2.4 billion.BMS maintained strong liquidity with $7.9 billion in cash and cash equivalents while completing strategic acquisitions of Karuna, RayzeBio and Mirati. The company issued $13 billion in senior unsecured notes to partially fund these acquisitions. Operating cash flow remained robust at $10.8 billion year-to-date, supporting continued dividend payments of $3.6 billion.

Bristol-Myers Squibb reported Q3 2024 revenues of $11.9 billion, up 8% year-over-year, driven by strong performance from its Growth Portfolio and Eliquis. Net earnings were $1.2 billion with diluted EPS of $0.60, compared to $1.9 billion and $0.93 EPS in Q3 2023. The Growth Portfolio, including Opdivo, Orencia and Yervoy, saw an 18% increase in revenue to $5.8 billion.The company achieved significant regulatory milestones, including FDA approval of Cobenfy for schizophrenia and expanded approvals for Breyanzi in multiple indications. Operating expenses increased primarily due to recent acquisitions, with R&D expenses up 6% to $2.4 billion and amortization of acquired intangible assets rising 7% to $2.4 billion.BMS maintained strong liquidity with $7.9 billion in cash and cash equivalents while completing strategic acquisitions of Karuna, RayzeBio and Mirati. The company issued $13 billion in senior unsecured notes to partially fund these acquisitions. Operating cash flow remained robust at $10.8 billion year-to-date, supporting continued dividend payments of $3.6 billion.