Bristol Myers Squibb Cuts Costs

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Bristol Myers Squibb

CNBC

•

Health

Bristol Myers Squibb plans $2 billion in cost cuts by 2027, issues weak guidance

Summary

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80% Informative

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

The company also issued a 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.

But Bristol Myers still reported fourth-quarter revenue and adjusted earnings that blew past expectations, boosted by Eliquis and its "growth portfolio" of drugs.

VR Score

Informative language

Neutral language

Article tone

formal

Language

English

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not offensive

Hate speech

not hateful