Bristol-Myers Squibb reported total revenues of $48.3 billion for fiscal year 2024, representing a 7% increase from $45.0 billion in 2023. Growth was driven by strong performance in the Growth Portfolio and Eliquis, partially offset by generic erosion in the Legacy Portfolio. U.S. revenues increased 9% to $34.1 billion while International revenues grew 1% to $13.2 billion.The company recorded a net loss of $8.9 billion in 2024 compared to net earnings of $8.0 billion in 2023, primarily due to a one-time, non-deductible Acquired IPRD charge of $12.1 billion from the Karuna acquisition. Research and development expenses increased 20% to $11.2 billion, reflecting higher drug development costs to support the broader portfolio and recent acquisitions.During 2024, BMS completed strategic acquisitions of Karuna ($14.0B), RayzeBio ($4.1B) and Mirati ($4.8B) to expand its portfolio. The company issued $13.0 billion in senior unsecured notes to partially fund these acquisitions. BMS also received multiple regulatory approvals including Cobenfy for schizophrenia and Opdivo Qvantig for multiple indications.

Bristol-Myers Squibb reported total revenues of $48.3 billion for fiscal year 2024, representing a 7% increase from $45.0 billion in 2023. Growth was driven by strong performance in the Growth Portfolio and Eliquis, partially offset by generic erosion in the Legacy Portfolio. U.S. revenues increased 9% to $34.1 billion while International revenues grew 1% to $13.2 billion.The company recorded a net loss of $8.9 billion in 2024 compared to net earnings of $8.0 billion in 2023, primarily due to a one-time, non-deductible Acquired IPRD charge of $12.1 billion from the Karuna acquisition. Research and development expenses increased 20% to $11.2 billion, reflecting higher drug development costs to support the broader portfolio and recent acquisitions.During 2024, BMS completed strategic acquisitions of Karuna ($14.0B), RayzeBio ($4.1B) and Mirati ($4.8B) to expand its portfolio. The company issued $13.0 billion in senior unsecured notes to partially fund these acquisitions. BMS also received multiple regulatory approvals including Cobenfy for schizophrenia and Opdivo Qvantig for multiple indications.