First Quarter 2022

Earnings highlights

First quarter 2022 results reflect double-digit growth of our in-line and new product portfolios driven by strong commercial execution.


YoY 5% increase; or 7% when
adjusted for foreign exchange




$1.96 *
YoY 13% increase

*Includes net impact of ($0.10) per share for GAAP and non-GAAP EPS due to Acquired IPRD charges partially offset by licensing income. 
Acquired IPRD refers to certain in-process research and development (“Acquired IPRD”) charges resulting from upfront or contingent milestone payments in connection with asset acquisitions or licensing of third-party intellectual property rights.

2022 Guidance1


In-line with


$2.92 - 3.222



1The 2022 financial guidance excludes the impact of any potential future strategic acquisitions and divestitures, and any specified items that have not yet been identified and quantified. The financial guidance is subject to risks and uncertainties applicable to all forward-looking statements as described elsewhere in the document.
2 GAAP and non-GAAP earnings per share include the net impact of ($0.10) from Acquired IPRD & licensing income incurred in Q1 2022 and an additional ($0.11) due to the buyout of future royalty obligation related to mavacamten that occurred in April 2022. Does not include estimate of Acquired IPRD & licensing income for remainder of 2022.

Giovanni Caforio, Chairman of the Board and Chief Executive Officer
"We continue to execute against our strategic priorities, deliver solid revenue and earnings growth and advance our product pipeline. Thanks to our team's hard work and dedication, we achieved regulatory approvals of two, new first-in-class medicines for patients living with metastatic melanoma and symptomatic obstructive hypertrophic cardiomyopathy, respectively. These milestone achievements, combined with our promising product pipeline and strong financial flexibility, provide a solid foundation that will enable us to deliver sustained growth and long-term benefits for our patients."

Giovanni Caforio, MD

Chairman of the Board

Delivering sustained growth and innovation

In-line Products performance:

$8.3B Revenue

YoY % Increase of 8%

Driven by:

New Product Portfolio performance:

$350M in Q1 2022 vs.
$161M in Q1 2021

Driven by:

Achieving key milestones

  • Received FDA approval for OpdualagTM (nivolumab and relatlimab-rmbw) for the treatment of adult and pediatric patients 12 years of age or older with unresectable or metastatic melanoma. Opdualag is a first-in-class, fixed-dose dual immunotherapy combination of the PD-1 inhibitor nivolumab and the LAG-3-blocking antibody relatlimab.
  • Received FDA approval of CamzyosTM (mavacamten), a first-in-class medicine for the treatment of obstructive HCM, a genetic heart condition where the heart muscle wall thickens, stiffens and makes it harder for the heart to pump oxygenated blood throughout the body.
  • Continued to expand Opdivo® (nivolumab) with multiple regulatory approvals; including:
    • FDA approval of:
      • Opdivo in combination with platinumdoublet chemotherapy for the treatment of certain patients with resectable non-small cell lung cancer in the neoadjuvant setting.
  • EC approval of:
    • Opdivo in combination with fluoropyrimidineand — platinum-based chemotherapy for first-line treatment of adult patients with unresectable advanced, recurrent or metastatic esophageal squamous cell carcinoma with tumor cell PD-L1 expression ≥ 1%.
    • Opdivo for the adjuvant treatment of adults with high-risk muscle-invasive urothelial carcinoma with PD-L1 expression ≥1%, marking the first immunotherapy approved for these patients.

Strong financial foundation


BMS maintains a consistent, balanced approach to capital allocation, focused on leveraging strong cash flow generation to invest in internal and external innovation, reducing debt and returning cash to shareholders.

Cash and Marketable Securities


Cash Flow

from Operating Activities


Returned Cash

to Shareholders


Environmental, social and governance highlights


As a leading biopharma company, we understand our responsibility extends well beyond the discovery, development, and delivery of innovative medicines. Our evolving Environmental, Social, and Governance (ESG) strategy builds on a legacy of comprehensive and global sustainability efforts. To learn more about our priorities and goals, please visit our latest ESG report.


Key priorities

  • Embracing environmental stewardship


  • 2024 – Science-based emissions reduction targets established
  • 2030 – 100% renewable electricity
  • 2040 – 
    •  Net neutral GHG
    • 100% EV fleet
    • 100% equitable water use
    • Zero waste to landfill


Key priorities

  • Promoting product quality & safety
  • Cultivating diversity, equity & inclusion
  • Ensuring health equity, patient access & innovation


  • 2021 – ≥ 25% new clinical trial sites in diverse metro areas2022 
  • 2022 – Gender parity at executive level. 2X representation for Black/African American & Hispanic/Latino executives
  • 2025 – $1B spend with diverse suppliers


Key priorities

  • Maintaining highest ethics, integrity & compliance
  • Upholding Board oversight & accountability


Experienced & diverse Board

  • Board oversight of strategy & key enterprise risks
  • 60% female & ethnically diverse directors

Shareholder rights

  • Regular shareholder engagement
  • Proxy access
  • Special meeting right (15%)




Transforming patients' lives through science™

*New Product Portfolio includes Reblozyl® (luspatercept-aamt), Inrebic® (fedratinib), Onureg® (azacitidine tablets), Zeposia® (ozanimod), Breyanzi® (lisocabtagene maraleucel) and Abecma® (idecabtagene vicleucel). Risk-adjusted sales figure also includes potential for relatlimab plus nivolumab fixed-dose combination, mavacamten and deucravacitinib.

**Non-GAAP EPS is not calculated in accordance with U.S. Generally Accepted Accounting Principles. This Non-GAAP measure excludes certain costs, expenses, gains and losses and other specified items. A reconciliation of GAAP to non-GAAP measures can be found on our website at See “Quarterly package of financial information” available on for additional information on the limitations of non-GAAP financial measures and the list of specified items excluded from Non-GAAP EPS.

Materials on this inforgraphic may contain information about the company’s future plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change any of them, and could cause actual outcomes and results to differ materially from current expectations. No forward-looking statement can be guaranteed. Forward-looking statements contained in this document should be evaluated together with the many risks and uncertainties that affect Bristol Myers Squibb's business, particularly those identified in the cautionary statement and risk factors discussion in the company’s most recent annual report on Form 10-K, quarterly reports on Form 10-Q and current reports on Form 8-K. These documents are available from the Securities and Exchange Commission, the Bristol Myers Squibb website or from Bristol Myers Squibb Investor Relations.

The forward-looking statements included in this document are made only as of the date of this document and except as otherwise required by applicable law, the company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise.