What drove BMY's earnings beat in 2024?

Bristol-Myers Squibb's (BMY) earnings beat in 2024 can be attributed to the following key factors: 1. **Strong Performance of Key Drugs**: BMY's earnings were boosted by the solid performance of its leading drugs, Eliquis and Opdivo. These two drugs contributed significantly to the company's revenue, particularly in the fourth quarter. 2. **Phase 3 Trial Results for Sotyktu**: The announcement of positive topline results from Phase 3 trials for Sotyktu generated increased interest from rheumatologists, despite some skepticism on efficacy metrics. This news, along with other approvals, influenced investor sentiment positively, contributing to a price increase of 2.12% over the last quarter. In summary, BMY's earnings beat in 2024 was primarily driven by the strong performance of its key drugs and positive clinical trial results for Sotyktu.