Yahoo Finance What Was Bristol-Myers Squibb’s Growth Rate in 2Q15?
Bristol-Myers Squibb Stock Falls after 2Q15 Earnings Release
Bristol-Myers Squibb’s growth rate
Bristol-Myers Squibb (BMY) achieved a 16% growth in constant exchange rate revenue in 2Q15 over 2Q14. The company’s 2Q15 revenues were $4.16 billion, ~12.3% higher than analysts’ estimates of $3.71 billion. The quarterly growth rate improved over the last two quarters due to increased sales of new products.
Year-over-year performance
Bristol-Myers Squibb’s revenues have fallen over the past few years due to the restructuring of its business segments. The 2014 revenues fell by more than 3% to $15.9 billion compared to $16.4 billion in 2013, mainly due to the divestiture of the company’s diabetes business. However, this divestiture had a positive impact on the company’s gross margin.
We’ll discuss 2Q15 segment-wise revenues and performance in the rest of this series. The company is focused on immuno-oncology and other key areas like fibrosis, heart failure, immunology, and genetically defined diseases.
Some of the developments to date include the acquisition of Flexus Biosciences, collaboration with Rigel Pharmaceuticals (RIGL) for development and marketing of immune-oncology therapies, and the agreement with Eli Lilly (LLY) to transfer manufacturing and marketing rights of Erbitux in North America to Eli Lilly’s subsidiary ImClone.
Bristol-Myers Squibb’s revenues rose by ~7% in 2Q15 as compared to 2Q14, while Merck’s (MRK) revenues fell by ~11%, Pfizer’s (PFE) revenues fell by ~7%, AstraZeneca’s (AZN) revenues fell by ~7%, and Novartis’s (NVS) revenues fell by ~5% in 2Q15 due to the changes in foreign exchange. Investors can consider ETFs like the Health Care Select Sector SPDR ETF (XLV) or the Market Vectors Pharmaceutical ETF (PPH) in order to divest the risk from investing in individual companies.
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