Bristol-Myers Squibb (BMY.US) sees strong demand for new drugs! Q2 revenue beats expectations, significantly raises full-year 2026 guidance

According to information from Zhihui Finance APP, thanks to strong demand for its new heart disease and cancer drugs, Bristol-Myers Squibb (BMY.US) saw most of its drug portfolio exceed Wall Street expectations in the second quarter. As a result, the company raised its full-year 2026 sales and profit outlook. The financial report shows that the company’s Q2 revenue reached $12.97 billion, a year-on-year increase of 5.7%, surpassing expectations by $1.23 billion; adjusted earnings per share were $2.04, $0.44 above expectations.

The company expects full-year sales to reach $49 billion to $50 billion, higher than the previous forecast range, which peaked at $47.5 billion. It also said adjusted earnings per share will reach $6.75 to $7.

Bristol-Myers Squibb, which is preparing for major products to lose patent protection, saw its quarterly sales surge to $12.97 billion, exceeding the average analyst estimate by more than $1 billion. This growth was primarily driven by newer products, such as the blood cancer therapy Breyanzi, the skin cancer drug Opdualag, and the heart disease drug Camzyos. This quarter’s EPS of $2.04 also beat expectations.

Adam Lenkowsky, Executive Vice President and Chief Commercialization Officer at Bristol-Myers Squibb, said in an interview that this was the highest quarterly sales in the company’s history.

Investors are focusing on upcoming trial results for potential blockbuster drugs, including Cobenfy for Alzheimer’s disease-related psychosis, and milvexian for the treatment of stroke and atrial fibrillation, a heart condition.

Lenkowsky stated, “What the R&D pipeline shows you is that we obviously have not stopped advancing science,” “You can already begin to see the future shape of Bristol-Myers Squibb emerging today.”

Cobenfy is one of the few drugs that failed to meet expectations. It was central to Bristol-Myers Squibb’s $14 billion acquisition of Karuna Therapeutics Inc. in 2024. This schizophrenia treatment has struggled to gain market traction due to insurance barriers and reluctance among some psychiatrists to prescribe it. Bristol-Myers Squibb recorded $63 million in sales for the drug in the second quarter, below analysts’ average estimate of $65.5 million.

The company is betting on Opdivo Qvantig, a more user-friendly alternative to its best-selling cancer drug Opdivo, believing it will help defend against competition from cheaper generics once patent protection is lost. Opdivo Qvantig’s sales exceeded expectations, reaching $261 million this quarter.

Bristol-Myers Squibb’s largest drug—the anticoagulant Eliquis—recorded $4.5 billion in sales this quarter, beating Wall Street’s average estimate of $4 billion. The drug is expected to lose exclusivity in Europe later this year and will eventually face competition from cheaper generics, which executives have previously said could result in an annual sales decline of up to $2 billion.