Bristol-Myers Squibb Company (NYSE:BMY) today reported results for the second quarter of 2019, which were highlighted by strong sales for Eliquis (apixaban) and Opdivo (nivolumab) and a robust operating performance across the portfolio.
BMY posted second-quarter 2019 revenues of $6.3 billion, an increase of 10% compared to the same period a year ago. Revenues increased 13% when adjusted for foreign exchange impact.
The company reported net earnings attributable to Bristol-Myers Squibb of $1.4 billion, or $0.87 per share, in the second quarter, compared to net earnings of $373 million, or $0.23 per share, for the same period in 2018. The results for the second quarter of 2019 include $409 million of Celgene-related acquisition and integration expenses.
According to CEO Giovanni Caforio, "We had a very good second quarter where we delivered strong financial results while also advancing our integration planning for the acquisition of Celgene.
"Through strong commercial execution and financial discipline we are establishing a solid foundation from which we can build the leading biopharma company, well-positioned to address the unmet needs of our patients and create long-term shareholder value."
In June, the company announced plans to divest OTEZLA® in light of concerns expressed by the U.S. Federal Trade Commission. The company expects to close the Celgene transaction by the end of 2019 or beginning of 2020.
Also last month, the company announced the future leadership team of the combined company effective upon completion of the company’s pending acquisition of Celgene.
Shares in BMY leaped $1.72, or 4%, to $44.95
