Bristol Myers Squibb (BMS) has reported strong second-quarter earnings, exceeding analyst expectations. The pharmaceutical giant’s success is attributed to the robust performance of its new drugs, including Reblozyl and Camzyos, as well as its top-selling blood thinner Eliquis.
The company’s “growth portfolio,” which includes new products and some established brands like cancer immunotherapy Opdivo, saw sales increase by 18% year-over-year. Notably, sales of anemia drug Reblozyl jumped 82% to $425 million, while Camzyos, a heart drug, saw its sales more than triple to $139 million.
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Total revenue reached $12.2 billion, a 9% increase from the previous year and surpassing analysts’ expectations of $11.5 billion. Although earnings per share (EPS) declined to $1.68 from $2.07 last year, excluding one-time items, EPS reached $2.07, exceeding analysts’ estimates of $1.63.
Encouraged by the strong performance, BMS has raised its full-year earnings forecast to 60-90 cents per share, up from the previous estimate of 40-70 cents. The company remains confident in its growth trajectory, despite the potential impact of Medicare drug price negotiations on Eliquis revenue starting in 2026.