These New Blockbusters Could Fill Bristol-Myers Squibb's Revenue Gap
Pharmaceutical giant Bristol-Myers Squibb (NYSE: BMY) is facing a steep patent cliff as the company's three top-selling drugs lose patent exclusivity in the coming years. The company needs to almost completely turn over its product portfolio by 2028, so the focus falls squarely on the performance of its newest medicines. Fortunately, Bristol-Myers has just launched several highly anticipated drugs.
Blood cancer drug Revlimid has been Bristol-Myers' top-selling drug, bringing in $12.8 billion in sales in 2021. But Revlimid will be facing mounting competition in the next several years. Bristol-Myers granted several companies volume-limited licenses to sell generics within the U.S. starting in March. The volume of generics will increase until 2026, at which point the market will become completely open to competition. Major European markets also opened to generics early this year, and the Japanese market is opening up too.
Revlimid sales will steadily decline through 2026, with the company estimating sales of $9 to $9.5 billion in 2022. This leaves an immediate gap of about $3.5 billion that must be filled through other drug sales.
Source Fool.com
