Introduction
Bristol Myers Squibb (NYSE: BMY) stands as a global biopharmaceutical leader, consistently pushing the boundaries of science to deliver life-transforming medicines. With a century-long history of breakthroughs, the company continues to evolve and adapt, guided by a powerful mission: to help patients prevail over serious diseases. In 2024, the company advanced this mission by achieving significant scientific milestones, expanding its therapeutic reach, and reinforcing its commitment to patient-centric innovation.
Company Profile
Mission and Vision
At the heart of Bristol Myers Squibb’s operations lies a deeply held commitment to patients. Its mission is:
“To discover, develop and deliver innovative medicines that help patients prevail over serious diseases.”
Its vision expands upon this foundation:
“To be the world’s leading biopharma company that transforms patients’ lives through science.”
These principles fuel the company’s operations globally, driving scientific innovation, strategic execution, and stakeholder engagement.
Core Values
- Integrity: Upholding ethical standards in every decision.
- Innovation: Pursuing bold ideas to create breakthrough medicines.
- Urgency: Acting decisively to bring therapies to patients faster.
- Passion: Fueled by purpose in the service of patients.
- Accountability: Taking ownership for outcomes and results.
- Inclusion: Embracing diverse perspectives to strengthen performance.
These six values form the cultural DNA of Bristol Myers Squibb.
Legacy and Transformation
From the production of penicillin during WWII to pioneering cancer immunotherapy, BMS has consistently adapted to meet new challenges. In 2024, the company continued to transform itself amid industry headwinds, focusing on three key areas:
- Developing transformational medicines with a competitive edge
- Driving operational excellence across all functions
- Strategically allocating capital for sustainable growth
The company remains focused on navigating patent cliffs and competition while positioning itself for accelerated growth in the second half of the decade.
Products and Services
Bristol Myers Squibb delivers cutting-edge treatments across major therapeutic areas:
Oncology
A cornerstone of the company’s success is its robust oncology portfolio:
- Opdivo (nivolumab)
- Yervoy (ipilimumab)
- Opdualag
- Krazati
- Abraxane
- AUGTYRO
These treatments span across indications such as melanoma, non-small cell lung cancer, kidney cancer, gastric cancers, and more. Notably, Opdivo Qvantig introduces subcutaneous administration, enhancing patient convenience.
Hematology
A leader in blood cancer therapies, BMS markets:
- Abecma
- Breyanzi
- Reblozyl
- Revlimid
- Onureg
- Pomalyst
- Empliciti
- Idhifa
- Sprycel
- Inrebic
These therapies treat conditions like multiple myeloma, lymphomas, leukemias, thalassemia, and myelofibrosis. BMS also pioneers next-generation CAR T-cell therapies.
Cardiovascular
BMS provides innovative cardiovascular medicines including:
- Eliquis – Stroke prevention in atrial fibrillation and venous thromboembolism.
- Camzyos – For hypertrophic cardiomyopathy.
- Milvexian – An investigational anticoagulant.
- MYK-224 – Targeting heart failure with preserved ejection fraction.
Immunology
Bristol Myers Squibb offers and develops treatments for autoimmune and inflammatory conditions:
- Sotyktu – For plaque psoriasis and in development for lupus, arthritis, and Sjögren’s syndrome.
- Zeposia – For multiple sclerosis and ulcerative colitis.
- Orencia – Treats rheumatoid arthritis and juvenile idiopathic arthritis.
- Investigational compounds include afimetoran, obexelimab, and TYK2 inhibitors.
Neuroscience
With its acquisition of Karuna Therapeutics, BMS expanded into neuropsychiatry:
- Cobenfy – Approved for schizophrenia, with potential in Alzheimer’s disease-related psychosis and agitation.
- Investigational programs targeting Alzheimer’s, anxiety, and MS spasticity.
Brand Portfolio
Bristol Myers Squibb owns and markets a range of globally recognized brands:
- Opdivo
- Yervoy
- Eliquis
- Camzyos
- Abecma
- Breyanzi
- Revlimid
- Onureg
- Reblozyl
- Sotyktu
- Zeposia
- Orencia
- Cobenfy
These brands are supported by strong clinical data and are vital components of treatment paradigms across oncology, cardiovascular, hematology, and immunology fields.
Global Footprint
BMS operates in more than 60 countries and markets its products in over 100 nations. Its global presence includes:
- Manufacturing facilities across the U.S., Europe, and Asia.
- Research centers in North America and Europe.
- Commercial operations and affiliate offices around the world.
- Patient access programs in underserved areas like Sub-Saharan Africa, Brazil, India, and the U.S.
The company also partners globally for drug development and commercialization, strengthening its presence in emerging markets.
Board of Directors
As of March 26, 2025, BMS’s Board of Directors includes:
- Christopher Boerner, Ph.D. – Chair and CEO
- Theodore R. Samuels – Lead Independent Director
- Peter J. Arduini – President & CEO, GE Healthcare
- Deepak L. Bhatt, M.D., M.P.H. – Mount Sinai Fuster Heart Hospital
- Julia A. Haller, M.D. – Wills Eye Hospital
- Manuel Hidalgo Medina, M.D., Ph.D. – Weill Cornell Medical College
- Michael R. McMullen – Former CEO, Agilent Technologies
- Paula A. Price – Former CFO, Macy’s
- Derica W. Rice – Former CFO, Eli Lilly; former President, CVS Caremark
- Karen H. Vousden, Ph.D. – Francis Crick Institute
- Phyllis R. Yale – Bain & Company
Committee representation includes Audit, Governance, Compensation, and Science & Technology.
Subsidiaries and Acquisitions
In 2024, BMS completed several transformative acquisitions:
- Karuna Therapeutics – Added key neuropsychiatric assets.
- RayzeBio – Strengthened radiopharmaceutical capabilities.
- Mirati Therapeutics – Expanded oncology pipeline.
These subsidiaries now serve as essential arms in driving innovation and future revenue growth.
Financial Performance (2024)
Revenue Highlights
- Total Revenue: $48.3 billion
- Growth Portfolio Revenue: $22.6 billion (up 19%)
- Year-over-Year Growth: 7% (or 9% adjusted for FX)
Consolidated Statement of Earnings (P&L)
- Total Revenues: $48.3 billion
- R&D Investment: $11.2 billion
- Net Income: Detailed figures are available in the financial tables.
- Earnings Per Share: Reported in GAAP and non-GAAP formats.
Consolidated Balance Sheet (Selected Figures)
- Cash and Marketable Securities: $11.2 billion
- Shareholders’ Equity: Details in the financial statements
- Assets and Liabilities: Consolidated overview provided in the Form 10-K
Cash Flow Statement
- Cash Flow from Operating Activities: $15.2 billion
- Cash Returned to Shareholders: $4.9 billion
- Investments in R&D and M&A: Over $11 billion
BMS announced a 3.3% increase in quarterly dividend, marking 93 consecutive years of dividend payments.
Outlook for 2025 and Beyond
Bristol Myers Squibb expects to drive long-term growth through:
- Next-wave product launches across neuroscience, oncology, and hematology.
- Pipeline readouts every year through 2027.
- Operational efficiencies, targeting an additional $2 billion in cost savings by 2027.
- AI integration to reduce clinical trial costs and accelerate innovation.
With a younger, more diverse portfolio and a strong innovation engine, BMS is strategically positioned for top-tier biopharma growth by the end of the decade.
Conclusion
Bristol Myers Squibb’s unwavering focus on patients, scientific excellence, and shareholder value has positioned it as one of the most dynamic and resilient players in global healthcare. The year 2024 marked another pivotal chapter, with significant milestones in R&D, commercial execution, and corporate transformation.
The company’s journey continues with an inspired workforce, bold pipeline, and a relentless pursuit of breakthroughs that change lives.
