BMY faces a compounding patent cliff with Revlimid already eroded, Eliquis Medicare negotiation hitting 2026, and Opdivo LOE approaching. The Karuna acquisition and Cobenfy schizophrenia launch are promising but cannot fill the revenue hole alone. Debt load from recent deals constrains further M&A. Cost cuts buy time but not growth.
Signals scoped to US · Company-specific tagging coming soon.