Bristol-Myers Squibb posts 10% rise in Q2 sales, led by Eliquis, Opdivo

Headline results for the second quarter:


$6.3 billion (forecasts of $6.1 billion)



$1.4 billion

Versus $373 million

Note: All changes are versus the prior-year period unless otherwise stated

What the company said:

"We had a very good second quarter where we delivered strong financial results while also advancing our integration planning for the acquisition of Celgene," remarked CEO Giovanni Caforio.

Bristol-Myers Squibb recently unveiled a number of upcoming executive changes for the combined company, and plans to divest Otezla (apremilast) in a bid to ease antitrust concerns and gain US regulatory approval for the Celgene merger. Caforio suggested that Bristol-Myers Squibb has seen significant interest from buyers for the psoriasis drug.

Meanwhile, the company also reiterated that it expects to close the $74-billion transaction by the end of 2019 or beginning of 2020.

Other results:

  • Eliquis: $2 billion (in line with expectations), +24%
  • Opdivo: $1.8 billion (in line with expectations), +12%
  • Orencia: $778 million (forecasts of $755 million), +9%
  • Sprycel: $544 million, +2%
  • Yervoy: $367 million, +17%
  • Baraclude: $147 million, -18%
  • Empliciti: $91 million, +42%

Looking ahead:

Bristol-Myers Squibb now expects earnings per share this year to be between $4.20 and $4.30, lifted from a prior range of $4.10 to $4.20.

What analysts said:

Earlier this week, Bristol-Myers Squibb released mixed results from the Phase III CheckMate -227 trial of immunotherapy Opdivo (nivolumab) in combination with either chemotherapy or Yervoy (ipilimumab) in patients with non-small-cell lung cancer. "While some of the drug data [were] disappointing, there was enough positivity for the combination of Opdivo and Yervoy that would suggest there is potential for that to gain share for a longer period of time," commented Jeremy Bryan of Gradient Investments.

To read more Top Story articles, click here.