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Bristol-Myers posts strong second quarter earnings as Eliquis, Orencia surprise

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Bristol-Myers Squibb , which is set to buy biotechnology company Celgene Corp so...

) soon for $74 billion, posted better-than-expected second-quarter earnings on Thursday on strong sales from its blood thinner Eliquis and rheumatoid arthritis treatment Orencia.

Bristol-Myers said it earned $1.43 billion in the quarter, or 87 cents a share, compared with $373 million, or 23 cents a share, a year earlier. Bristol-Myers increased its full-year earnings forecast by 10 cents a share to $4.20 to $4.30 a share.Sales of Eliquis rose 24% to $2.04 billion and Orencia sales rose 9% to $778 million. Both drugs performed better than analysts expected.

The result is likely to further solidify Keytruda as an initial treatment for advanced lung cancer, by far the most lucrative oncology market.

 

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