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July 28, 2022

BMS reports 2% rise in total revenue in Q2 2022

Revenues grew 12% to $8.3bn in the US for the three months ended on 30 June.

Bristol Myers Squibb (BMS) has reported a 2% rise in revenues to $11.9bn in the second quarter (Q2) of 2022 compared to $11.7bn in Q2 last year.

The revenue growth was driven by in-line products, mainly Eliquis and Opdivo, as well as the company’s latest product portfolio comprising Abecma, Opdualag and Reblozyl.

New LOE products, especially Revlimid and foreign exchange, impacts partially offset the increase in revenues.

In-line products and new product portfolio contributed 11% of the revenue growth. 

In Q2 2022, revenues for in-line products were $8.7bn versus $8bn in the previous year, indicating a 9% rise.

Revenues from the latest product portfolio rose to $482m during the second quarter from $225m in the year-ago period.

For the three months ended on 30 June, revenues grew 12% to $8.3bn in the US while international revenues saw a decline of 16% to $3.6bn.

Earnings per share (EPS) on a GAAP basis in Q2 2022 stood at $0.66, a rise of 44% from $0.47 in the year-ago quarter.

During the quarter, net product sales were $11.5bn versus $11.4bn in the prior year’s quarter.

Bristol Myers Squibb board chair and CEO Giovanni Caforio said: “I am very pleased with the continued strong demand for our in-line products and new product portfolio, resulting in solid top and bottom-line growth.

“The momentum with our business and strength of our pipeline gives us significant opportunities to drive continued growth, starting with the anticipated approval for deucravacitinib in moderate to severe plaque psoriasis and the expected transition of milvexian, our next generation anti-thrombotic, to Phase III development.”

In February, BMS reported a 9% rise in revenue to $46.4bn for full-year 2021 versus $42.52 in 2020.

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