BMS looks to new product portfolio as revenues slide due to Revlimid losses

Bris­tol My­ers Squibb cit­ed low­er Revlim­id sales as a dri­ver of its falling rev­enue in the US in the sec­ond quar­ter of 2023.

The can­cer drug brought in just un­der $1.47 bil­lion in Q2, down 41% from the same time last year due to gener­ic com­pe­ti­tion and a greater num­ber of pa­tients ac­cess­ing the drug through an as­sis­tance pro­gram. The com­pa­ny’s over­all rev­enue was $11.2 bil­lion, down 6% from last year, caus­ing Bris­tol My­ers to re­vise its full-year guid­ance. While it pre­vi­ous­ly an­tic­i­pat­ed a rough­ly 2% in­crease in rev­enues, it’s now call­ing for a “low sin­gle dig­it de­cline.”

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