Bristol Myers Squibb & Co (NYSE:BMY) reported second-quarter 2025 revenues of $12.27 billion, beating the consensus of $11.31 billion, almost flat year over year.
U.S. sales slipped 3% to $8.5 billion, while international revenues climbed 10% to $3.8 billion, representing an 8% increase when excluding foreign exchange impacts (Ex-FX).
Growth Portfolio revenues of $6.6 billion increased 18%, or 17% Ex-FX. Revenue growth was primarily driven by the immuno-oncology (IO) portfolio, Breyanzi, Reblozyl, and Camzyos, reflecting the continued strength of Cobenfy (a schizophrenia drug).
Also Read: Is Bristol-Myers Squibb Still An Undervalued Biopharma Play?
Sales of the cancer drug Opdivo increased 7% to $2.56 billion. The arthritis drug Orencia generated sales of $963 million, up 2%. Sales of another cancer drug, Yervoy, increased 16% to $728 million.
Camzyos (a heart drug) generated sales of $260 million, up 87%. The anemia drug Reblozyl generated $568 million in quarter sales, up 34% from a year ago.
Legacy Portfolio revenues of $5.7 billion decreased 14%, or 15% Ex-FX. Demand increased for Eliquis, offset by expected continued generic impact across the remainder of the Legacy Portfolio and the impacts from the U.S. Medicare Part D redesign.
Bristol-Myers reported adjusted earnings of $1.46 per share, missing the consensus of $1.58. GAAP EPS was 64 cents and non-GAAP EPS was $1.46. Both figures include the net impact of 57 cents due to the Acquired IPRD charge associated with the BioNTech SE (NASDAQ:BNTX) strategic partnership worth $11 billion.
Gross margin decreased from 73.2% to 72.5% on a GAAP basis, and from 75.6% to 72.6% on a non-GAAP basis, primarily due to product mix.
Bristol Myers Squibb lowered its fiscal 2025 adjusted earnings guidance from $6.70-$7.00 to $6.35-$6.65 per share compared to the consensus of $6.76.
The US drugmaker raised 2025 sales guidance from $45.8 billion-$46.8 billion to $46.5 billion-$47.5 billion compared to the consensus of $46.23 billion. It reiterated gross margin guidance of around 72%.
On Monday, Bristol Myers and Bain Capital announced the creation of a new independent biopharmaceutical company focused on developing new therapies for autoimmune diseases.
The newly formed company launches with five immunology assets in-licensed from Bristol Myers and a $300 million financing commitment that Bain Capital led.
Price Action: BMY stock is trading lower by 3.04% to $44.58 at last check Thursday.
Read Next:
Photo via Shutterstock
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.