Bristol-Myers Squibb Reports Q2 2025 Revenue Growth to $12.27 Billion

Bristol-Myers Squibb Company (BMS) reported its financial results for the second quarter of 2025, revealing total revenues of $12.27 billion, a slight increase of 1% compared to $12.20 billion in the same period last year. For the first half of 2025, revenues decreased by 2% to $23.47 billion from $24.07 billion in the prior year. The company attributed the revenue growth in the second quarter primarily to increased demand for its Growth Portfolio, particularly for the drug Eliquis, which was partially offset by the impact of generic competition on its Legacy Portfolio.

Net earnings for the second quarter were $1.31 billion, or $0.64 per diluted share, down from $1.68 billion, or $0.83 per diluted share, in the same quarter of 2024. Year-to-date, BMS reported a net income of $3.77 billion, a significant recovery from a loss of $10.23 billion in the first half of 2024. The decrease in earnings per share was primarily driven by a one-time charge related to the BioNTech collaboration, which amounted to $1.5 billion, recorded as an Acquired IPRD expense.

Strategically, BMS has made significant moves in its product pipeline and partnerships. In June 2025, the company entered a global collaboration with BioNTech for the co-development of a bispecific antibody targeting PD-L1 and VEGF-A, which is currently in clinical trials. Additionally, BMS completed the acquisition of 2seventy bio for $287 million, gaining full U.S. rights to the cell therapy Abecma. The company also announced the opening of a new radiopharmaceutical facility in Indianapolis to support its expanding capabilities in this area.

Operationally, BMS reported a total employee headcount of approximately 30,000 as of June 30, 2025, reflecting ongoing investments in its workforce to support growth initiatives. The company continues to focus on expanding its geographic reach and product adoption rates, particularly in international markets, where revenues increased by 8% in the second quarter. The company’s strategic productivity initiative aims to achieve annual cost savings of approximately $2 billion by the end of 2027, which is expected to enhance operational efficiency and support long-term growth.

Looking ahead, BMS anticipates continued pressure from government pricing regulations and generic competition, particularly affecting its Legacy Portfolio. The company is actively evaluating the impact of recent legislative changes, including the Inflation Reduction Act, which may influence pricing and reimbursement for its products. Despite these challenges, BMS remains committed to its strategic priorities, focusing on innovation and operational excellence to drive future growth.