AbbVie and Bristol Myers Squibb Report Better-Than-Expected Earnings in the
Second Quarter Following Price Hikes on Blockbuster Drugs





 



BIG PHARMA EARNINGS WATCH: ABBVIE AND BRISTOL MYERS SQUIBB

AbbVie and Bristol Myers Squibb Report Better-Than-Expected Earnings in the
Second Quarter Following Price Hikes on Blockbuster Drugs



Last week, brand name pharmaceutical companies AbbVie and Bristol Myers Squibb
became the latest Big Pharma giants to report second quarter earnings that
exceeded Wall Street analysts’ expectations after hiking prices on blockbuster
products earlier this year.



During the AbbVie call
<[link removed]>
, an analyst from UBS noted that the company’s blockbuster drug, Skyrizi, had
“favorable” pricing during the second quarter. A 4.1 percent price hike on
Skyrizi was among AbbVie’s 17 price hikes applied to brand name prescription
drugs so far in 2025.



Get the full recap of AbbVie and Bristol Myers Squibb’s strong earnings,
fueled by blocking competition and hiking prices:



AbbVie

* AbbVie’s fourth quarter earnings saw better-than-expected revenue in Q2
<[link removed]>.
* The company reported revenue of $15.42 billion
<[link removed]>,
versus analysts’ estimates of $15.04 billion.
* The blockbuster drug Humira brought in $1.18 billion
<[link removed]>
in the second quarter.
* Skyrizi saw Q2 earnings of $4.42 billion
<[link removed]>
, beating estimates of $4 billion, while Rinvoq had sales of$2.03 billion
<[link removed]>
, surpassing estimates of $1.97 billion.
* The Big Pharma company lifted its full-year earnings forecast for 2025
<[link removed]>
with strong sales of immunology drugs Skyrizi and Rinvoq.
Bristol Myers Squibb

* Bristol Myers Squibb reported earnings that exceeded Wall Street analysts’
expectations
<[link removed]>
.
* The company saw $12.27 billion
<[link removed]>
in revenue, up from the $11.31 billion consensus.
* Sales for cancer drug Opdivo rose seven percent to $2.56 billion
<[link removed]>
.
* Bristol Myers Squibb’s growth portfolio increased 18 percent to $6.6 billion

<[link removed]>
, driven by immune-oncology drugs Breyanzi, Reblozyl and Camzyos.
* The Big Pharma giant is raising its revenue guidance to $46.5 billion to
$47.5 billion
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from prior expectations of $45.8 billion to $48.8 billion.
These strong Q2 earnings from these Big Pharma giants come after they
continued to hike prices on their brand name drugs.



AbbVie

* So far in 2025, AbbVie has hiked prices on 17 prescription drugs
<[link removed]>, including Skyrizi by 4.1
percent and Rinvoq by five percent.
* AbbVie increased prices on 19 prescription drugs in 2024
<[link removed]>, including a 5.8 percent price
increase on Skyrizi and five percent increase on Rinvoq.
* AbbVie hiked prices on 40 prescription drugs
<[link removed]> in January 2023, including
eight percent <[link removed]> increases each on
the company’s blockbuster autoimmune drugs Skyrizi and Rinvoq.
* In 2022, AbbVie increased prices on more than 40 prescription drugs
<[link removed]>.
Bristol Myers Squibb

* Bristol Myers Squibb has hiked prices of 17 prescription drugs so far this
year, including blood thinner drug Eliquis and cancer drug Opdivo bytwo percent
<[link removed]>.
* The Big Pharma giant kicked off 2024 by increasing prices on more than 10
prescription drugs <[link removed]>, including a
six percent increase on Eliquis.
* In 2023, the pharmaceutical giant kick started the year by raising prices on
10 prescription drugs <[link removed]>,
including blockbuster blood thinner Eliquis by six percent.
* Bristol Myers Squibb began 2022 by hiking prices on nine
<[link removed]> prescription drugs, including
two key cancer drugs, Opdivo and Yervoy, as well as blockbuster blood thinner
drug Eliquis.
Stay tuned as we continue to monitor second quarter earnings calls from brand
name drug companies in the coming weeks.



Read more on Q2 earnings from AstraZeneca and GSK HERE
<[link removed]>.



Read more on Q2 earnings from Roche HERE
<[link removed]>.



Read more on Q2 earnings from Johnson & Johnson HERE
<[link removed]>.



Learn more about solutions to lower prescription drug prices and hold Big
Pharma accountableHERE <[link removed]>.



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