Bristol Myers Squibb Plans $ 2 Billion in Cost Cuts By 2027, Issues Weak Guidance

Bristol Myers Squibb On Chiursday said it will slash $ 2 billion in costs by the end of 2027, expanding its ongoing cost-savings effort to chart a path a path a path-term long-term green.

Bristol myers said saving saving

The Pharmaceutical Giant Still Plans to cut $ 1.5 billion in costs by the end of 2025 and funnel that money into drug development. It first announcedThos Cuts in April, and expanded on them with something.

The company is preparation to offset the loss in revons in revneue from top-with-with-with-with-with to lose exclusivity on the market, Including its blockbuster blood thinner eliquis and cancer imunophy opdi.

Also on Thursday, Bristol Myers Squibb issued full-year 2025 guidance that fell short of Wall Street’s expectations, as some of the company’s older drugs face competition from cheaper generics. That Includes Four Drugs For Different Cancers: Revlimid, Pomalyst, Sprycel and Abraxane.

Bristol Myrs Expects Revenue to Come in Around $ 45.5 Billion, which is beLow the $ 47.36 billion that analysts surveyed by lseg wereg wereg were

The company’s revidance also reflects an approximately $ 500 Million Expected Negative IMPACT from Foreign Exchange.

The drugmaker expects adjusted earnings per share of between $ 6.55 and $ 6.85. Analysts surveyed by lseg expected adjusted earnings of $ 6.92 per share.

Despite that Outlook, Bristol Myrs Reported Fourth-Quarter Revenue and Adjusted Earnings That Blew Past Expectations, Boosted By Eliquis and the Company’s So-Called Growth Portfolio of DRAGUGS.

Here is what bristol myers reported for the fourth quarter compared with what wall street was expecting, based on a survey of analysts by lseg:

• Earnings per share: $ 1.67 adjusted vs. $ 1.46 Expected
• Revenue: $ 12.34 billion vs. $ 11.57 Billion Expected

Bristol Myers Posted Net Income of $ 72 Million, or 4 cents per share, for the fourth quality. That compares with network of $ 1.8 billion, or 87 cents per share, for the year-earlier period.

Excluding certain items, it reported adjusted earnings per share of $ 1.67 for the Quarter.

The Pharmaceutical Giant’s Revenue Rose 8% from the same period a year ago to $ 12.34 billion.

Eliquis Booked $ 3.2 Billion in Sales for the Quarter, Up 11% From The Year-AGO Period. That is about the $ 3.03 billion that analysts was expecting, according to estimates compiled by streetaccount.

The blood thinner, which bristol myers shares with PfizerIs expected to lose market exclusiveity by 2028.

Sales of eliquis could also take a hit in 2026, when a new negotiated price For the Drug Goes Into Effect for Sertain Medicare PATITENS FOLLOWING NEGOTIANS with the Federal Government. That price talks are a key provision of the inflation Reduction Act.

The Second round of negotiations Targets 15 additional drugs and will set new prices that will go into effect in 2028. That includes pomalyst, which is used to treat a blood cancer called Myliple Myeloma and A Cancer that Develoople.

Pomalyst brough in $ 823 million for the period, down 8% from the year-aarlier period. Sprycel Booked $ 198 Million in Sales for the Quarter, Falling 62% from the same period a year ago. Abraxane Generated $ 174 Million in Revenue for the Fourth Quarter, Down 30% from the same Quarter in 2023.

Revlimid Took in $ 1.34 billion in sales for the fourth quality, down 8% from the same period a year ago. That surpassed analysts’ Revenue Expectations of $ 1.10 billion for the treatment, according to streetaccount.

Revenue from the company’s growth portfolio was $ 6.36 billion for the fourth quality, up 21% from the year-aarlier period.

Oppdivo brieft in $ 2.48 billion in revealed for the fourth Quarter, Rising 4% from the Year-Earlier Perod. That fell under analysts’ estimate of $ 2.51 billion for the Quarter, Streetaccount Said.