Bristol Myers Squibb (BMS) is confident pivotal readouts from its core pipeline will drive profits towards 2030 despite looming patent expiries for revenue leaders Opdivo and Eliquis, says CEO Christopher Boerner.
Boerner presented an optimistic future for the big pharma at the 44th J.P. Morgan Healthcare conference, held in San Francisco from 12 to 15 January 2026. After closing over $30bn in deals over the past two years, he said BMS now holds a diverse pipeline of candidates across the company’s core areas of focus, poised to alleviate reliance on blockbusters Opdivo (nivolumab) and Eliquis (apixaban) as their patents near expiry.
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BMS expects readouts from pivotal trials for six assets in 2026 across neurology, cardiovascular disease, immunology, and oncology for candidates that Boerner said have multi-billion-dollar commercial potential, adding the company could launch as many as 10 new medicines by 2030.
BMS’s current top selling drugs are Opdivo, approved for a number of solid tumours, and Eliquis, approved for in several indications as an anticoagulant. According to GlobalData, each drug is projected to bring in revenues of $10bn and $12.2bn in 2026, respectively. However, each is also approaching loss of exclusivity; BMS is expected to lose US exclusivity over both around 2028.
But unlike many in the sector looking for profits in metabolic asset acquisitions to weather patent expiries, such as with Pfizer’s $10bn acquisition of Metsera last November, Boerner said the focus of BMS remains on its core areas of expertise, which are oncology, haematology, immunology, cardiovascular, and neuroscience.
Among pivotal readouts expected are results from the Phase III ALOFT-IPF trial of admilparant in idiopathic pulmonary fibrosis (IPF) (NCT06003426). Also due this year are readouts for milvexian in atrial fibrillation (NCT05757869) and secondary stroke prevention (NCT05702034), and for xanomeline/trospium chloride in Alzheimer’s symptoms of psychosis across the ADEPT trials. Xanomeline/trospium chloride is marketed as Cobenfy for schizophrenia.
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By GlobalDataIn oncology, BMS’s PD-L1/VEGF-targeting bispecific antibody pumitamig is expected to readout results in solid tumours, while Boerner said three new registrational trials are expected to be initiated by the end of the year. Additionally, two trials of its oral CELMoD (cereblon E3 ligase modulator) degraders iberdomide and mezigdomide are expected to readout in multiple myeloma (NCT04975997; NCT05552976).
Separately from J.P. Morgan, BMS announced on 12 January that Camzyos (mavacamten) met the primary endpoint in a Phase III trial in adolescents, aged 12 years to 18 years, with symptomatic obstructive hypertrophic cardiomyopathy (oHCM). It will discuss the Phase III data with health authorities.
In a fireside Q&A, Boerner called for simplification of the US ecosystem to improve medicine access and affordability. This follows a deal signed 19 December 2025 in which BMS agreed to provide Eliquis for free to the US government, receiving three years of tariff relief from the White House.
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