Bristol Myers Squibb10-Q: Pricing pressureJul 30, 2026

Strategic Eliquis price cut drives 57% YTD drop in Medicare/Medicaid rebates

What happened

BMY's decision to reduce the U.S. list price for its top drug Eliquis caused a 57% YTD drop in Medicaid and Medicare rebates. This complex pricing maneuver, designed to increase net realized prices, highlights intense pressure from the U.S. payer and rebate system, requiring sophisticated financial and contract management.

Source

SEC EDGARJul 30, 2026

Quarterly report (Form 10-Q)

Bristol Myers Squibb 10-Q

Filing excerpt

The changes in gross product sales and GTN adjustments were primarily due to a list price reduction for Eliquis in the U.S. in 2026.

sec.gov/Archives/edgar/data/14272/000001427226000020/bmy-20260630.htmRead the full source

Other signals in this filing (7)

Competitor namedLegacy drug portfolio revenue collapses due to generic erosion; Revlimid sales down 56% YTD.Competitor namedJul 30, 2026
Product launchBMY receives multiple major drug approvals in Q2 2026 for Opdivo, Sotyktu, and Breyanzi.Product launchJul 30, 2026
Market share lossLegacy portfolio revenue plummets with Revlimid down 56% YTD due to generic erosionMarket share lossJul 30, 2026
Litigation materialBMY defends $8.6B drug Eliquis in court and licenses Orencia to competitor Dr. Reddy'sLitigation materialJul 30, 2026
Data investmentBMY navigates volatile Gross-to-Net (GTN) adjustments, which swung by 16 percentage points in the U.S.Data investmentJul 30, 2026
Logistics challengeBMY manages complex, restricted REMS distribution programs for key drugs like Camzyos, Revlimid, and Pomalyst.Logistics challengeJul 30, 2026
Compliance burdenBMY manages complex, restricted REMS distribution programs for key growth drugsCompliance burdenJul 30, 2026

Extracted by Autobound

From the Signal API record

Signal: 10-Q: Pricing pressure

What this signalsFilings often name leadership changes, deals and spending plans.

Fiscal year end: 06/30
Filed: Jul 30, 2026

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SEC 10-QScholastic CorporationCore school channels decline with fewer book fairs and lower club participation.SEC 10-QSep 25, 2026

The full record

From the Signal API record

Numbers

Percent: -57% (YTD change in Medicaid and Medicare rebates)

Details

CIK: 14272
Accession number: 0000014272-26-000020
Timeframe: Current year
Filing year: 2026
Fiscal year: 0
Why it matters: Cost optimization needed
Signal category: Market

Topics and mentions

Regions named

U.S.

Extraction

Confidence: High
Relevance: 80%
Sentiment: Neutral
Detected: Aug 4, 2026
signal_type: sec-10q
signal_subtype: pricingPressure

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linkedin_urlValue in the API
industriesValue in the API
employee_count_lowValue in the API
employee_count_highValue in the API
revenueValue in the API
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Show the full JSONThe record on this page and the API request

GET /v1/signals/ff27e4d9-8c5c-453e-ba76-d45a820145de returns this record as JSON. POST /v1/companies/enrich returns every signal for bms.com.

{
  "signal_id": "ff27e4d9-8c5c-453e-ba76-d45a820145de",
  "signal_type": "sec-10q",
  "signal_subtype": "pricingPressure",
  "detected_at": "2026-08-04T07:03:39.423+00:00",
  "company": {
    "name": "Bristol Myers Squibb",
    "domain": "bms.com"
  },
  "data": {
    "detail": "BMY's decision to reduce the U.S. list price for its top drug Eliquis caused a 57% YTD drop in Medicaid and Medicare rebates. This complex pricing maneuver, designed to increase net realized prices, highlights intense pressure from the U.S. payer and rebate system, requiring sophisticated financial and contract management.",
    "metrics": {
      "pct": -0.57,
      "timeframe": "current_year",
      "pct_context": "YTD change in Medicaid and Medicare rebates"
    },
    "summary": "Strategic Eliquis price cut drives 57% YTD drop in Medicare/Medicaid rebates",
    "excerpts": "The changes in gross product sales and GTN adjustments were primarily due to a list price reduction for Eliquis in the U.S. in 2026.",
    "relevance": 0.8,
    "sentiment": "neutral",
    "confidence": "high",
    "source_url": "https://www.sec.gov/Archives/edgar/data/14272/000001427226000020/bmy-20260630.htm",
    "filing_date": "2026-07-30",
    "filing_year": 2026,
    "fiscal_year": 0,
    "fiscal_year_end": "06/30",
    "sales_relevance": "Cost optimization needed",
    "signal_category": "market",
    "regions_mentioned": [
      "U.S."
    ]
  }
}

curl https://signals.autobound.ai/v1/signals/ff27e4d9-8c5c-453e-ba76-d45a820145de \
  -H "X-API-KEY: $AUTOBOUND_API_KEY"

curl -X POST https://signals.autobound.ai/v1/companies/enrich \
  -H "X-API-KEY: $AUTOBOUND_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{"domain":"bms.com","limit":20}'

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