Bristol-Myers Squibb (NYSE: BMY) reported Q2 EPS of $0.53, $0.17 better than the analyst estimate of $0.36. Revenue for the quarter came in at $4.16 billion versus the consensus estimate of $3.71 billion.

SECOND QUARTER BUSINESS DEVELOPMENT UPDATE

• In July, the company and The Medical University of South Carolina announced a translational research collaboration focused on fibrotic diseases, including scleroderma, renal fibrosis and idiopathic pulmonary fibrosis. The collaboration will include studies designed to improve the mechanistic understanding of fibrosis, explore patient segmentation based on disease characteristics and/or biomarker approaches and predictors of disease progression.

Bristol-Myers Squibb sees FY2015 EPS of $1.70-$1.80, versus prior guidance of $1.60-$1.70 and the consensus of $1.77.

Key revised 2015 non-GAAP line-item guidance assumptions include:

• Worldwide revenues between $15.5 and $15.9 billion.
• Full-year gross margin as a percentage of revenues of approximately 76%.
• Advertising and promotion expense increasing in the high-single-digit range.
• Marketing, sales and administrative expenses decreasing in the low- to mid-single-digit range.
• Research and development expenses increasing in the mid-single-digit range.
• An effective tax rate of approximately 19%.

For earnings history and earnings-related data on Bristol-Myers Squibb (BMY) click here.