Earnings results often indicate what direction a company will take in the months ahead. With Q2 behind us, let’s have a look at Bristol-Myers Squibb (NYSE: BMY) and its peers.

Looking ahead, the branded pharmaceutical industry is positioned for tailwinds from advancements in precision medicine, increasing adoption of AI to enhance drug development efficiency, and growing global demand for treatments addressing chronic and rare diseases. However, headwinds include heightened regulatory scrutiny, pricing pressures from governments and insurers, and the looming patent cliffs for key blockbuster drugs. Patent cliffs bring about competition from generics, forcing branded pharmaceutical companies back to the drawing board to find the next big thing.

The 10 branded pharmaceuticals stocks we track reported a strong Q2. As a group, revenues beat analysts’ consensus estimates by 3.1%.

In light of this news, share prices of the companies have held steady as they are up 4.7% on average since the latest earnings results.

Bristol-Myers Squibb (NYSE: BMY)

With roots dating back to 1887 and a transformative merger in 1989 that gave the company its current name, Bristol-Myers Squibb (NYSE: BMY) discovers, develops, and markets prescription medications for serious diseases including cancer, blood disorders, immunological conditions, and cardiovascular diseases.

Bristol-Myers Squibb reported revenues of $12.27 billion, flat year on year. This print exceeded analysts’ expectations by 7.8%. Overall, it was an exceptional quarter for the company with a beat of analysts’ EPS estimates and an impressive beat of analysts’ full-year EPS guidance estimates.

Interestingly, the stock is up 2.6% since reporting and currently trades at $47.22.

Is now the time to buy Bristol-Myers Squibb? Access our full analysis of the earnings results here, it’s free.

Best Q2: Supernus Pharmaceuticals (NASDAQ: SUPN)

With a diverse portfolio of eight FDA-approved medications targeting neurological conditions, Supernus Pharmaceuticals (NASDAQ: SUPN) develops and markets treatments for central nervous system disorders including epilepsy, ADHD, Parkinson's disease, and migraine.

Supernus Pharmaceuticals reported revenues of $165.5 million, down 1.7% year on year, outperforming analysts’ expectations by 7.4%. The business had an incredible quarter with a beat of analysts’ EPS estimates and full-year operating income guidance exceeding analysts’ expectations.

Supernus Pharmaceuticals pulled off the highest full-year guidance raise among its peers. The market seems happy with the results as the stock is up 15.8% since reporting. It currently trades at $43.47.

Is now the time to buy Supernus Pharmaceuticals? Access our full analysis of the earnings results here, it’s free.

Corcept (NASDAQ: CORT)

Focusing on the powerful stress hormone that affects everything from metabolism to immune function, Corcept Therapeutics (NASDAQ: CORT) develops and markets medications that modulate cortisol to treat endocrine disorders, cancer, and neurological diseases.

Corcept reported revenues of $194.4 million, up 18.7% year on year, falling short of analysts’ expectations by 3.5%. It was a softer quarter as it posted full-year revenue guidance missing analysts’ expectations.

Corcept delivered the weakest performance against analyst estimates and weakest full-year guidance update in the group. Interestingly, the stock is up 3.7% since the results and currently trades at $69.50.

Read our full analysis of Corcept’s results here.

Royalty Pharma (NASDAQ: RPRX)

Pioneering a unique business model in the pharmaceutical industry since 1996, Royalty Pharma (NASDAQ: RPRX) acquires rights to receive portions of sales from successful biopharmaceutical products, providing funding to drug developers without conducting research itself.

Royalty Pharma reported revenues of $578.7 million, up 7.7% year on year. This result lagged analysts' expectations by 1.9%. All in all, it was a slower quarter for the company.

The stock is down 5.6% since reporting and currently trades at $35.77.

Read our full, actionable report on Royalty Pharma here, it’s free.

Eli Lilly (NYSE: LLY)

Founded in 1876 by a Civil War veteran and pharmacist frustrated with the poor quality of medicines, Eli Lilly (NYSE: LLY) discovers, develops, and manufactures pharmaceutical products for conditions including diabetes, obesity, cancer, immunological disorders, and neurological diseases.

Eli Lilly reported revenues of $15.56 billion, up 37.6% year on year. This print topped analysts’ expectations by 5.4%. Overall, it was a very strong quarter as it also put up a beat of analysts’ EPS estimates and full-year revenue guidance slightly topping analysts’ expectations.

Eli Lilly scored the fastest revenue growth among its peers. The stock is down 1.7% since reporting and currently trades at $734.73.

Read our full, actionable report on Eli Lilly here, it’s free.

Market Update

The Fed’s interest rate hikes throughout 2022 and 2023 have successfully cooled post-pandemic inflation, bringing it closer to the 2% target. Inflationary pressures have eased without tipping the economy into a recession, suggesting a soft landing. This stability, paired with recent rate cuts (0.5% in September 2024 and 0.25% in November 2024), fueled a strong year for the stock market in 2024. The markets surged further after Donald Trump’s presidential victory in November, with major indices reaching record highs in the days following the election. Still, questions remain about the direction of economic policy, as potential tariffs and corporate tax changes add uncertainty for 2025.

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