The 3 drugs tracked here made $27.2B of Bristol Myers Squibb’s 2025 revenue (56%) and lose US exclusivity by 2028. Since 2023, Bristol Myers Squibb has closed 4 acquisitions of $1B or more, worth $24.4B in total.
Bars are each drug's 2025 sales as a share of Bristol Myers Squibb’s total revenue ($48.2B). Only drugs tracked here are counted, so full exposure can be higher. Tap a bar for the drug's page.
| Closed | Company bought | Value | Area | What it brought | At closing |
|---|---|---|---|---|---|
| Jan 2024 | Mirati TherapeuticsBMS, October 2023 · BMS, January 2024 | $4.8B | Oncology | Krazati, a lung cancer drug, plus early cancer programsPlus a CVR worth up to $1.0B. | Approved product |
| Feb 2024 | RayzeBioBMS, February 2024 | $4.1B | Oncology | RYZ101, a radiopharmaceutical in Phase 3 for neuroendocrine tumors | Pipeline only |
| Mar 2024 | Karuna TherapeuticsBMS, March 2024 | $14.0B | Neuroscience | Cobenfy for schizophrenia, approved by the FDA in September 2024, after the deal closed | Pipeline only |
| Dec 2025 | Orbital TherapeuticsBMS, October 2025 · BMS 10-K 2025 | $1.5B | Immunology | OTX-201, an early in vivo CAR-T therapy for autoimmune disease | Pipeline only |
| 4 deals | $24.4B | ||||
Acquisitions of whole companies worth $1B or more, announced since January 2023. Values are the headline price Bristol Myers Squibb announced, excluding milestone payments unless noted. Licensing deals are not included.
| Area | At risk by 2037 | Acquisitions since 2023 |
|---|---|---|
| Oncology | $12.8B | $8.9B |
| Cardiometabolic | $14.4B | – |
| Neuroscience | – | $14.0B |
| Immunology | – | $1.5B |
Bristol Myers Squibb has the most revenue at risk in cardiometabolic, but has spent the most on acquisitions in neuroscience. At risk is 2025 sales of tracked drugs losing US exclusivity by 2037; acquisitions are the headline value of deals closed since 2023.
The two figures measure different things. Revenue at risk is what the drugs earned in 2025. A deal's value is what Bristol Myers Squibb paid, not the sales it will bring in. Only one of the 4 companies it bought was already selling an approved product at closing (Mirati Therapeutics); the rest brought pipeline drugs whose sales are years away and may never arrive. So this page shows the two side by side rather than claiming how much of the gap the deals fill.
Breckenridge launched generic pomalidomide under the settlement timeline, with Camber following. Breckenridge
Revenue: BMS FY2025. Drug sales and dates are sourced on each drug's page; each deal links to Bristol Myers Squibb’s announcement or filing in the table above.
See all 45 drugs on the patent cliff →