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                                    <img src="https://imageproxy.pbkrs.com/https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/02/PT-2-06-02-2026-shutterstock_2582493669-430x241.jpg?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://www.pharmaceutical-technology.com/wp-content/uploads/sites/24/2026/02/PT-2-06-02-2026-shutterstock_2582493669-430x241.jpg"/>
                                    
                                    <figcaption>BMS achieved non-GAAP EPS of $6.15 for the full year, a substantial improvement from $1.15 in 2024. Credit: Piotr Swat / Shutterstock.com.</figcaption>
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<p>Bristol Myers Squibb (BMS) has reported full-year 2025 revenues of $48.2bn, essentially flat compared with $48.3bn in 2024.</p>



<p>The company’s fourth quarter revenues increased 1% to $12.5bn, and its growth portfolio surged 16% to $7.4bn.</p><div>
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<p>BMS reported non-GAAP earnings per share (EPS) of $6.15 for the full year, a substantial improvement from $1.15 in 2024.</p><div id="slot-one"></div><div id="Sgpollsputhere"></div>



<p>Fourth quarter non-GAAP EPS reached $1.26, though this included a net impact of $(0.60) from acquired in-process research and development (IPRD) charges and licensing income.</p>



<p>The growth portfolio generated $26.4bn in 2025, a 17% increase year-over-year.</p>



<p>Key drivers included the immuno-oncology portfolio, notably Breyanzi, Camzyos and Reblozyl. Breyanzi revenues surged 82% while Camzyos jumped 77%.</p><div> 
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<p>Conversely, the legacy portfolio revenues declined 15% to $21.8bn, primarily impacted by generic competition across multiple products despite increased demand for Eliquis.</p>



<p>The company projects 2026 revenues between $46.0bn and $47.5bn, with non-GAAP EPS ranging from $6.05 to $6.35.</p><div id="slot-two"></div>



<p>The company increased its quarterly dividend to $0.63 per share, marking the 17th consecutive annual increase.</p>



<p>BMS board chair and CEO Christopher Boerner said: “We made significant progress in 2025, with real momentum in our growth portfolio and a strengthened balance sheet that provides the strategic flexibility to continue investing in growth drivers.</p>



<p>“2026 is data-rich, and we are advancing a truly differentiated pipeline with multiple pivotal readouts expected in the back half of the year. Our core business is strong and growing, and we have the potential to achieve industry-leading, sustainable growth into the 2030s and beyond.”</p>



<p>Last month, BMS expanded its oncology pipeline by entering an exclusive global licensing agreement with Janux Therapeutics.</p>



<p>Under this arrangement, the two companies agreed to co-develop a new therapy targeting solid tumours.</p>
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<p>Bristol Myers Squibb (BMS) reported flat revenue growth for 2025, with revenues at $48.2bn compared to $48.3bn in 2024. Non-GAAP EPS improved significantly to $6.15 from $1.15 in 2024. The fourth quarter saw a 1% revenue increase to $12.5bn, driven by a 16% surge in the growth portfolio. However, legacy portfolio revenues fell 15% to $21.8bn due to generic competition. BMS projects 2026 revenues between $46.0bn and $47.5bn and increased its quarterly dividend to $0.63 per share. CEO Christopher Boerner highlighted progress and a strong pipeline for future growth.</p>

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BMS reports flat revenue growth for full-year 2025