Bristol-Myers Squibb Reports Q4 2025 Revenue of $14.3 Billion, Driven by Oncology and Immunology Growth

Bristol-Myers Squibb delivered fourth-quarter 2025 revenue of $14.3 billion, marking a 7.2% increase compared to the same period in 2024. The growth was primarily fueled by a 12.5% rise in sales of Opdivo, its flagship immuno-oncology drug, which generated $6.1 billion in Q4. Reblozyl, the company’s anemia therapy, contributed $1.8 billion in revenue, up 15.3% year-over-year. These gains were partially offset by declining sales of Eliquis, which dropped 8% due to intensified generic competition in the U.S. market. The company’s total global revenue for 2025 reached $56.8 billion, surpassing 2024’s $53.1 billion. Adjusted earnings per share for the year stood at $7.42, a 6.1% improvement, driven by cost optimization and higher-margin product sales. Bristol-Myers Squibb maintained its full-year 2026 revenue guidance of $58.2 to $59.5 billion, with expected earnings per share between $7.65 and $7.85. The performance underscores the continued strength of the company’s specialty pharmaceutical pipeline, particularly in immuno-oncology and chronic disease management. Expansion into new indications for Opdivo in combination therapies and ongoing Phase 3 trials for new immunology candidates are expected to support future growth. Additionally, the company reported a $2.3 billion investment in R&D during 2025, focused on next-generation biologics and targeted therapies. Market analysts noted that the results reinforced Bristol-Myers Squibb’s resilience amid patent expirations and pricing pressures. Investors responded positively, with the company’s stock rising 4.3% in after-hours trading following the report. The results also highlight the strategic importance of its biosimilars entry strategy and portfolio diversification efforts.