Will Opdivo and Opdivo Qvantig Drive BMY's Top-Line Growth?

Bristol Myers (BMY) has a strong oncology portfolio comprising blockbuster immune-oncology drug Opdivo, Opdivo Qvantig, and Yervoy, among others.Opdivo is a key drug in BMY’s Growth Portfolio that is approved for several oncology indications. Consistent label expansion of the drug has enabled it to maintain momentum.Opdivo sales in the United States are being driven by a strong launch in MSI-high colorectal cancer and continued growth in first-line non-small cell lung cancer, while sales outside the country are being bolstered by volume growth.In May 2025, the European Commission (“EC”) approved the subcutaneous formulation of Opdivo (nivolumab) across multiple solid tumor indications. The EC had earlier approved a perioperative regimen of neoadjuvant Opdivo and chemotherapy followed by adjuvant Opdivo for resectable, high-risk non-small cell lung cancer with PD-L1 Expression ≥1%.The regulatory body also granted approval to Opdivo Qvantig (nivolumab and hyaluronidase-nvhy) injection for subcutaneous use. The initial uptake has been strong and the launch is going well in the United States across all indicated tumor types. Opdivo Qvantig received a permanent J-Code on July 1, which will support additional conversion as reimbursement improves.The company now expects global Opdivo sales, together with Qvantig, to grow in the mid to high single-digit range in 2025, driven by strong performance in the first half.BMY depends on the label expansion of approved drugs and approval of new drugs to stabilize its revenue base, as its legacy drugs (Revlimid, Pomalyst, Sprycel and Abraxane) face generic competition.Competition for BMY’s Oncology DrugsWhile the label expansion of Opdivo is positive, the immuno-oncology space is dominated by pharma giant Merck’s (MRK) blockbuster drug Keytruda (pembrolizumab), along with Roche’s (RHHBY) Tecentriq.Keytruda is approved for several types of cancer and alone accounts for around 50% of MRK’s pharmaceutical sales. Merck is currently working on different strategies to drive long-term growth of Keytruda.Roche’s immuno-oncology Tecentriq is also approved for various oncology indications — early-stage (adjuvant) NSCLC, small cell lung cancer, hepatocellular carcinoma and breast cancer, among others. In addition to intravenous infusion, Roche has also obtained approval for Tecentriq as a subcutaneous injection.BMY’s Price Performance, Valuation and EstimatesShares of Bristol Myers have lost 13.6% year to date against the industry’s growth of 4.3%.Image Source: Zacks Investment ResearchFrom a valuation standpoint, BMY is trading at a discount to the large-cap pharma industry. Going by the price/earnings ratio, BMY’s shares currently trade at 7.60X forward earnings, lower than its mean of 8.47X and the large-cap pharma industry’s 14.78X.Image Source: Zacks Investment ResearchThe bottom-line estimate for 2025 has moved up to $6.50 from $6.41 in the past 30 days, while that for 2026 has moved south to $6.07 from $6.08 in the same timeframe.Image Source: Zacks Investment ResearchBMY currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.5 Stocks Set to DoubleEach was handpicked by a Zacks expert as the favorite stock to gain +100% or more in the months ahead. They includeStock #1: A Disruptive Force with Notable Growth and ResilienceStock #2: Bullish Signs Signaling to Buy the DipStock #3: One of the Most Compelling Investments in the MarketStock #4: Leader In a Red-Hot Industry Poised for GrowthStock #5: Modern Omni-Channel Platform Coiled to SpringMost of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. While not all picks can be winners, previous recommendations have soared +171%, +209% and +232%.Download Atomic Opportunity: Nuclear Energy's Comeback free today.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Roche Holding AG (RHHBY): Free Stock Analysis Report Bristol Myers Squibb Company (BMY): Free Stock Analysis Report Merck & Co., Inc. (MRK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks