Top 5 Drug Companies in USA and Their China Reliance

In this article, we will be taking a look at the top 5 drug companies in USA and their China reliance. To read our detailed analysis of the pharmaceutical sector, you can go directly to see the Top 10 Drug Companies in USA and Their China Reliance.

5. Bristol-Myers Squibb Company (NYSE:BMY)

Total Revenue in 2021: $46.39 billion

Bristol-Myers Squibb Company (NYSE:BMY) is based in New York City and is one of the largest pharmaceutical companies in the world. It has consistently ranked on the Fortune 500 list of the largest US corporations.

Bristol-Myers Squibb Company (NYSE:BMY) was initiated with an Overweight rating at Cantor Fitzgerald by analyst Olivia Brayer on January 17. The analyst also placed a $95 price target on the stock.

The company positioned itself well in 2023 through the success of three of its therapies: Revlimid, Eliquis, and Opdivo. Over the past three years, Bristol-Myers Squibb Company (NYSE:BMY)  has generated about $40 billion in operating cash flow. It also generated about $10.8 billion in product sales in 2022. The company has been focusing on marketing its arthritis drug, Orencia, in China, which it is targeting as a profitable pharma market due to its economic power and large population.

Investment management company RGA Investment Advisors mentioned Bristol-Myers Squibb Company (NYSE:BMY) in its third-quarter 2022 investor letter. Here’s what the firm said:

“Bristol-Myers Squibb Company (NYSE:BMY), which we referenced above, boasts a double digit free cash flow yield that gets divided roughly equally between repurchases, a dividend and M&A in what is the best environment for acquisitions perhaps ever. In 2019, BMY acquired Celgene, who had one of the better corporate development programs in the industry. We view this as a great outlet for us as generalists considering a company like BMY should truly thrive with the ability to acquire outstanding assets and science at depressed valuations. We touched on the Turning Point acquisition above and we expect the company to be increasingly active in the M&A landscape. Importantly, Celgene also came to BMY with a phenomenal CAR-T platform. CAR-T is a cell therapy that activates the body’s immune system to target cancers. This will be a key growth vector alongside M&A in overcoming the company’s patent cliff.”