Bristol Myers Squibb Raises 2026 Forecast on Eliquis and New Drug Performance

Bristol Myers Squibb raised its full-year revenue and profit forecasts after reporting Q2 results that beat Wall Street expectations, driven by strong sales of blood thinner Eliquis and newer drugs like Camzyos and Reblozyl. The company reported Q2 revenue of $12.97 billion, up 6% year-over-year and above analysts' average estimate of $11.75 billion. Adjusted earnings of $2.04 per share topped expectations of $1.59. Bristol Myers now sees adjusted 2026 earnings of $6.75 to $7.00 per share, up from its prior view of $6.05 to $6.35. Eliquis' share of new U.S. prescriptions is approaching 80%, and the company's growth portfolio grew 15% in Q2, with nine products now growing double digits. The shift from older drugs like Revlimid to newer therapies is a key focus for Bristol Myers, which is also accelerating the transition to Opdivo Qvantig, with conversion from intravenous Opdivo approaching 15%.