Bristol’s Bold Projections Grow Bolder As Confidence In R&D Programs Rises
New And Existing Blockbusters Expected To Fill Future Revenue Gaps
Loss of exclusivity for key Bristol Myers Squibb products, starting with top seller Revlimid, is looming over the company’s R&D pipeline. BMS believes its late-stage and newly approved products will generate more than $25bn in sales by 2029.
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Orphan drugs and COVID-19 products are among the latest filings under review by the European Medicines Agency for potential pan-EU approval.
Management outlined its growth strategy to investors, highlighting plans to file 14 novel drugs with more than $1bn in peak sales by 2025.
New product sales doubled from $161m in the first quarter to $344m in Q3 and the R&D pipeline advancing as planned ahead of generic competition for Revlimid, which will begin to launch in 2022.