Bristol Myers Squibb
2019 revenue: $26.15 billion
2018 revenue: $22.56 billion
Headquarters: New York, New York
Bristol Myers Squibb in early 2020 looks much different than it did in early 2019.
Aside from losing the hyphen in its name as part of a rebrand, it also brought in biotech giant Celgene over the span of the last year. That means on next year’s top pharma ranking, BMS will be several spots higher.
The company kicked off 2019 by unveiling its massive Celgene megamerger in January and closed the deal in November. Between the announcement and the close, the BMS focused on selling the move to investors, clearing antitrust hurdles, and keeping its business operating smoothly. Overall for the year, Bristol posted 16% revenue growth to $26.14 billion, but the number is inflated from a little more than a month of Celgene revenues.
Within BMS, blood thinner Eliquis and checkpoint inhibitor Opdivo each generated more than $7 billion in global sales last year. Immunology drug Orencia posted 10% growth to rake in nearly $3 billion.
And Celgene drugs chipped in more than $1.8 billion following the close after generating nearly $13 billion through the year's first three quarters. Adding that total to Bristol’s yearly haul would place the combined company among the top 10 drugmakers worldwide.
Looking forward, BMS will have to navigate the COVID-19 crisis just as its peers do. The company in March won approval for Celgene’s multiple sclerosis drug Zeposia, but it’ll have to delay the commercial rollout due to the pandemic. And in early April, the drugmaker scored a nod for Reblozyl in certain patients with myelodysplastic syndromes, setting up an important rollout.