Bristol Myers Squibb reported second-quarter 2025 revenues of $12.27 billion, beating the consensus of $11.31 billion, with U.S. sales slipping 3% to $8.5 billion and international revenues climbing 10% to $3.8 billion. Growth Portfolio revenues increased 18% driven by various drugs including Opdivo, Orencia, and Yervoy.

Sales of Opdivo increased 7% to $2.56 billion, while Camzyos generated $260 million in sales, up 87%. Reblozyl saw quarter sales of $568 million, up 34%. Legacy Portfolio revenues decreased 14%, with Eliquis demand increasing but offset by generic impacts and U.S. Medicare Part D redesign.

Adjusted earnings for Bristol-Myers were $1.46 per share, missing the consensus of $1.58. Gross margin decreased due to product mix. The company lowered its fiscal 2025 adjusted earnings guidance to $6.35-$6.65 per share compared to the consensus of $6.76 and raised sales guidance to $46.5 billion-$47.5 billion.

Bristol Myers and Bain Capital announced the creation of a new independent biopharmaceutical company focused on autoimmune diseases, launching with five immunology assets and a $300 million financing commitment led by Bain Capital. BMY stock is trading lower by 3.04% at $44.58.

Read more at Yahoo Finance: Bristol Myers Cuts Earnings Outlook As Legacy Drugs Face Generic Erosion