Headquarters: New York, New York
2017 prescription sales: $19.3 billion
Projected 2024 sales: $28.7 billion
Bristol-Myers Squibb comes in last for the top 10 companies and makes that spot on the strength of a couple of drugs, notably immuno-oncology drug Opdivo and cardiovascular blockbuster Eliquis, which it shares with Pfizer.
The New York City, New York-based Bristol-Myers has had a wild ride in the last few years with the approval in 2014 of Opdivo. With an initial approval in Japan, the drug was the first of a new class of cancer fighters known as PD-1/PD-L1 inhibitors. It was the second in the class to secure FDA approval after its rival, Merck & Co.’s PD-1 drug Keytruda.
The two drugs have seesawed for the top spot in the class ever since, with Opdivo leading in sales last year at $5.7 billion to Keytruda’s $3.8 billion. By 2024, however, the two are projected to reverse places with Opdivo forecast to have sales of $11.2 billion compared to $12.7 billion for its rival.
By 2024, Opdivo will rank fourth as the best-selling drugs in the world, behind Celgene’s multiple myeloma med Revlimid. Right behind Opdivo will be Bristol’s Eliquis, at $10.5 billion. Eliquis is already a hot seller, having overtaken Xarelto as the most prescribed novel oral anticoagulant (NOAC) in the U.S. in the first quarter of 2017. For the whole year, the drug produced $4.87 billion in sales, up 46% from 2016’s $3.34 billion.
By 2024, Eliquis will outshine even Opdivo in U.S. sales with $5.8 billion for the heart drug, compared to $5.3 billion for the cancer fighter, thereby keeping Bristol-Myers in the top 10 for overall sales.
The downside of being buoyed by those two drugs, however, is the concentration of risk. Evaluate, however, predicts that this concentration is marginalized for the drugmaker since both Eliquis and Opdivo will remain patent-protected throughout the forecast period.