BMY

What You Should Know

Bristol-Myers Squibb is a US-headquartered global biopharmaceutical company focused on prescription specialty medicines across oncology (Opdivo — nivolumab, an anti-PD-1 immune checkpoint inhibitor with broad oncology indications; Yervoy — ipilimumab, an anti-CTLA-4 checkpoint inhibitor; Revlimid — lenalidomide for multiple myeloma; Pomalyst, Sprycel, and the broader oncology portfolio), hematology (Reblozyl for anemia in beta-thalassemia and myelodysplastic syndromes; Breyanzi, an autologous CD19-directed CAR-T therapy for lymphoma), immunology (Eliquis — apixaban, a direct oral anticoagulant co-marketed with Pfizer that is the largest-selling drug in the cardiovascular category globally; Orencia, Zeposia, Sotyktu for psoriasis, and other immunology medicines), cardiovascular medicines, and neuroscience including Camzyos for obstructive hypertrophic cardiomyopathy. The pipeline includes additional programs in oncology, hematology, immunology, and neuroscience. Pharmaceutical development, manufacture, and distribution is unambiguously permissible at the activity level under standard Sharia methodology — Bristol-Myers Squibb's medicines serve to preserve life and treat serious disease, a clearly permissible therapeutic mission. The financial screen consideration is leverage: BMY took on significant debt to fund the 2019 Celgene acquisition and the 2023 Mirati Therapeutics acquisition, and the consolidated debt-to-market-cap ratio sits in a range that should be verified against the 33% Sharia threshold at the time of investment depending on the share price. Most major Sharia advisory boards classify BMY as permissible with purification of small interest-income components, subject to verifying the current debt-to-market-cap ratio.