In this episode of The Quarterly Briefing, we delve into Bristol Myers Squibb's financial performance for the third quarter of 2024. Despite reporting a net loss of nearly $9 billion, the company's upbeat tone during their earnings call indicates optimism. We explore BMS's use of non-GAAP financials, their aggressive acquisition strategy including the purchase of Karuna, Reza Bio, and Marati for over $20 billion, and the challenges they face such as legal battles over Eliquis patents and the impact of the Inflation Reduction Act. Additionally, we highlight the growth of their newer drugs, which generated $5.8 billion in revenue, and their commitment to innovation and patient access. Join us as we unpack BMS's strategies, financial health, and future prospects.00:00 Introduction to The Quarterly Briefing01:19 Deep Dive into Bristol Myers Squibb01:49 Analyzing BMS's Financial Performance02:21 BMS's Acquisition Strategy03:19 Challenges and Legal Battles04:42 Impact of the Inflation Reduction Act05:30 BMS's Strategic Response06:15 Positive Highlights and Future Outlook10:16 Conclusion and Key Takeaways13:18 Closing Remarks and Listener Engagement

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