Bristol Myers Squibb Defies Expectations with Strong Sales in Q2
Bristol Myers Squibb reported impressive second-quarter results with stronger-than-anticipated sales from its key brands Eliquis, Opdivo, and Revlimid. Despite challenges from generic competitors, the company raised its revenue projections for 2025, indicating a robust performance in the pharmaceutical market.
Bristol Myers Squibb surprised the market with its second-quarter earnings report, driven by robust sales of its flagship drugs Eliquis, Opdivo, and Revlimid. The pharmaceutical giant defied analyst expectations by posting a 1% increase in revenue to $12.3 billion, surpassing predictions of $11.4 billion, as noted by LSEG data.
The company's impressive results are credited to its sound commercial strategy, according to Chief Financial Officer David Elkins, who highlighted that the majority of their key brands exceeded consensus. Eliquis and Opdivo sales notably grew by 8% and 7%, respectively, outperforming analyst forecasts.
Despite significant revenue pressures from generic versions, Revlimid sales exceeded expectations. Bristol Myers has adjusted its 2025 sales forecast upwards to $3 billion and increased its annual revenue guidance. The full-year earnings estimate now ranges from $6.35 to $6.65 a share, indicating a strong market position for the future.
(With inputs from agencies.)
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