What Are Bristol-Myers Squibb's Top 3 Drugs?

Bristol-Myers Squibb’s (NYSE: BMY) top 3 selling drugs (excluding that of Celgene) are Eliquis, Opdivo, and Orencia. These three drugs combined, likely accounted for three-fourths of the company’s total sales in 2019. However, with the Celgene acquisition, revenues are expected to shoot up in 2020, thus resulting in a decline in the contribution of these drugs to the overall sales. Our interactive dashboard analysis on Bristol-Myers Squibb’s top 3 drugs has more details about our expectations, parts of which we highlight below.

Bristol-Myers Squibb is slated to release its Q4 and full year 2019 earnings on February 6, 2020, and the average consensus for revenue is $24.4 billion and that for adjusted EPS is $4.38, which compares with Trefis’ forecast of $24.1 billion revenue and $4.30 adjusted EPS, as shown in our Bristol-Myers Squibb’s valuation dashboard.

Bristol-Myers Squibb’s Top Selling Drugs Are Eliquis, Opdivo, And Orencia

Top 3 Drugs Accounted For Roughly Three-Quarters of Bristol-Myers Squibb’s Total Sales In 2019

  • Sales of Eliquis, Opdivo, and Orencia combined, accounted for 73% of the company’s total sales in 2019, as compared to 48% contribution seen in 2016.
  • Total sales of these 3 drugs grew from $9.4 billion in 2016 to $17.6 billion in 2019.
  • Total sales of Bristol-Myers Squibb grew from $19.4 billion to $24.1 billion over the same period.
  • However, the contribution of these 3 drugs is expected to decline to 43% in 2020, due to the impact of the Celgene acquisition, which will boost the company’s total sales to north of $42 billion.

Eliquis Is The Leader In Anticoagulant Market

  • Eliquis is a leading novel oral anticoagulant. Other NOACs include Johnson & Johnson’s Xarelto, Boehringer Ingelheim’s Pradaxa, Daiichi Sankyo’s Lixiana and Savaysa, and Portola’s new drug Bevyxxa.
  • While Xarelto sales has hovered around the $2.5 billion mark, and Pradaxa sales remained under $2.0 billion, Eliquis saw stellar growth with a CAGR of 33% between 2016 and 2019.
  • Look at our analysis on Eliquis for more details.

Opdivo Is Used For The Treatment of Advanced Lung Cancer And Competes Primarily With Merck’s Keytruda

  • Opdivo’s sales grew at a CAGR of 25% from $3.8 billion in 2016 to $7.2 billion in 2019.
  • Merck’s Keytruda is the leader in this space with average annual sales growth of 102% over the same period.
  • Roche’s Avastin sales largely hovered around the $7.0 billion mark over the past few years, but the drug’s period of market exclusivity has now ended, and it will face biosimilar competition going forward.
  • Note that these drugs may be approved for multiple indications, and the sales figure shown in the charts below represent total sales of the drug across all indications.

Orencia Is A Popular Treatment In Crowded Rheumatoid Arthritis Drugs Market

  • Orencia’s sales have remained in the range of $2.3 billion to $2.7 billion over the past few years.
  • There are several drugs used for the treatment of rheumatoid arthritis, including AbbVie’s Humira, J&J’s Remicade, and Pfizer’s Xeljanz among others.
  • J&J’s Remicade’s period of market exclusivity ended in 2016, and this explains the reason for the decline in its sales.
  • Pfizer’s Xeljanz has seen sales grow at a CAGR of 35% between 2016 and 2019.
  • Look at our dashboard on Rheumatoid Arthritis (for Pfizer’s Xeljanz) for more details.
  • Note that these drugs may be approved for multiple indications, such as Crohn’s disease, and the sales figure shown represent total sales of the drug across all indications.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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