Bristol-Myers Squibb Co

BMY: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Bristol's Portfolio of Newer Therapies and Strong Late-Stage Pipeline Support a Wide Moat

Karen Andersen

Feb 5, 2026

Business Strategy and Outlook

Adept at partnerships and acquisitions, Bristol-Myers Squibb has built a strong portfolio of drugs and a robust pipeline. This strategy is evident in the acquisition of Celgene, which netted the firm an excellent pipeline and a strong foothold in blood cancer. More recent acquisitions—oncology firms Mirati and RayzeBio and neurology firm Karuna—also help support Bristol's strong overall pipeline and wide moat.

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Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams. And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data.

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How we make money

We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions. Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters.

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Verify your identity, personalize the content you receive, or create and administer your account.
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Develop and improve features of our offerings.
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To learn more about how we handle and protect your data, visit our privacy center.

How we approach editorial content

Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

To further protect the integrity of our editorial content, we keep a strict separation between our sales teams and authors to remove any pressure or influence on our analyses and research.

Read our editorial policy to learn more about our process.

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Bristol-Myers Squibb Co

Bristol's Portfolio of Newer Therapies and Strong Late-Stage Pipeline Support a Wide Moat

Business Strategy and Outlook

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