Bristol Myers Squibb saw revenue rise 2% last quarter, while Teva Pharmaceuticals lowered its 2022 revenue outlook, according to Q2 earnings reports released by both organizations.

BMS recorded revenue of $11.9 billion, fueled by the performance of Abecma, Opdualag, Reblozyl and other new products. U.S. revenue rose 12% to $8.3 billion, though international revenue slumped by 16%.

Additionally, BMS recorded 9% total revenue growth from its in-line products division, spurred by the enduring strength of Eliquis and Opdivo. 

In its report, BMS touted the ongoing expansion of its oncology capabilities. The company received a new indication for Opdivo and announced the $4.1 billion planned acquisition of Turning Point Therapeutics, a clinical-stage precision oncology company. The deal is expected to close in Q3.

“I am very pleased with the continued strong demand for our in-line products and new product portfolio, resulting in solid top and bottom-line growth,” BMS CEO Dr. Giovanni Caforio said in a statement. “The momentum with our business and strength of our pipeline, gives us significant opportunities to drive continued growth, starting with the anticipated approval for deucravacitinib in moderate to severe plaque psoriasis and the expected transition of milvexian, our next generation anti-thrombotic, to phase 3 development.”

Meanwhile, Teva revenue slipped 3% year-over-year and GAAP gross profit fell by 4%. The main drag on Teva’s top-line growth was Copaxone. 

To that end, Teva lowered its revenue guidance for the rest of 2022, though it reaffirmed its earnings and cash flow guidance. The company now projects revenue in the range of $15 billion to $15.6 billion, down from a prior range of $15.4 billion to $16 billion and below the $15.9 billion in revenue generated last year. While Teva raised the revenue outlook for Austedo and Ajovy, it lowered its expectations for Copaxone to around $700 million. 

Teva also provided an update on its $4.25 billion opioid settlement agreement, pledging an additional $100 million for Native American communities, spread out over 13 years. The company stated that it expects to have documentation for the nationwide settlement agreement finalized in the weeks ahead, noting that it will “include no admission of wrongdoing.”

“In the second quarter Teva has delivered a solid performance, despite global macroeconomic headwinds. Our generic and OTC business benefited from the gradual easing of COVID-19 restrictions in Europe and successful generic launches in the U.S.,” Teva CEO Kåre Schultz said in a statement. “We also executed well on our key specialty brands, Austedo and Ajovy, growing our overall market share. As fluctuations of foreign exchange rates persist, we have lowered our 2022 revenue outlook, while reaffirming our earnings and cash flow guidance.”