Bristol-Myers Squibb Co. (BMY) is a commercial-stage life sciences company focused on treatments for solid tumors, hematology, immunology and cardiovascular markets.
The company’s pipeline includes several blockbuster drugs, including Revlimid, Eliquis and Opdivo – its three largest revenue generators during the third quarter of 2020. The fastest-growing drug in its pipeline was Yervoy, a monoclonal antibody, which experienced a 26% increase in sales to $400 million during the quarter.
In addition to its commercial drugs, the company has a diverse pipeline with numerous upcoming launches to drive future growth. These drug candidates are spread across oncology, hematology, cardiovascular, immunology, fibrosis and neuroscience.
Buffett Builds a Stake
Bristol-Myers Squibb reported third-quarter revenue that rose by six percent to $10.54 billion, beating consensus estimates by $210 million, and non-GAAP earnings of $1.63 per share, beating consensus estimates by 14 cents per share.
Warren Buffett’s Berkshire Hathaway purchased about 30 million shares of Bristol-Myers Squibb, according to its latest 13F SEC filing.
BMY raised its quarterly dividend by 8.9% to $0.49 per share following the strong financial results, which represents a 3.26% forward yield. The dividend is payable on February 1, 2021, to shareholders on record as of January 4, 2021.
Want to keep track of all the dividend increases? Subscribe to Dividend.com and have complete access to our exclusive dividend increases list here.
