File Photo: The Bristol Myers Squibb Research and Development Center in Cambridge Crossing in Cambridge, Massachusetts, on December 27, 2023.
Adam Glanzman | Bloomberg | Getty images
Bristol Myers Squibb On Thursday he exceeded the estimates of the first quarter and uploaded his income and profits guide for the year, since the medication manufacturer reduces costs.
The company now hopes that the income of 2025 will arrive between $ 45.8 billion and $ 46.8 billion, above an earlier perspective of around $ 45.5 billion. Bristol Myers also expects profits adjusted to the full year of $ 6.70 to $ 7 per share, compared to its previous prognosis of $ 6.5 to $ 6.85 per share.
In particular, the company said its guidance reviews include the estimated impact of current tariffs on American products sent to China. But President Donald Trump’s planned rates on the pharmaceutical products imported to the United States, said Bristol Myers.
China is a critical market for Bristol Myers Squibb. The company has previously described His “China 2030” strategy, which is a plan To bring more of their medications to the nation to address unattered medical needs in areas such as gastric cancer and include more Chinese patients in clinical trials.
The company said that the Outlook Hike reflects the strength in the company’s newest drug brand portfolio, and first quarter sales improvements of its major drug portfolio.
The results occur when Bristol Myers Squibb moves to reduce the expenses of $ 2 billion by the end of 2027, which is at the top of $ 1.5 billion in planned cost cuts for the end of this year.
It also arrives only days after the recently approved schizophrenia drug by Bristol Myers Squibb, Cobenfy, disappointed in a large clinical trialtaking some Wall Street analysts to substantially reduce their multimillionaire sales forecasts for treatment.
The company is depositing in Cobenfy and other so -called growth portfolio to compensate for the loss of income of the best -selling treatments scheduled to lose exclusivity in the market, including its successful antimedreo optimis and cancer immunotherapy.
This is what Bristol Myers reported for the first quarter compared to what Wall Street expected, based on a LSEG analysts survey:
- Profit per action: $ 1.80 adjusted compared to $ 1.49 expected
- Revenue: $ 11.2 billion compared to $ 10.7 billion expected
Bristol Myers recorded a net income of $ 2.5 billion, or $ 1.20 per share, for the first quarter. That is compared to a net loss of $ 11.9 billion, or a loss of $ 5.89 per share, for the period of year more than the year.
Excluding certain items, he reported sets adjusted per share of $ 1.80 for the quarter.
The revenues of the pharmaceutical giant fell 6% from the same period a year ago to $ 11.2 billion.
Eliquis reserved $ 3.57 billion in sales for the quarter, 4% less than the period of the previous year. That is above the $ 3.34 billion that analysts expected, according to estreets compiled by streetacount.
It is expected that the Flowlerner, which Bristol Myers shares with Pfizer, loses the exclusivity of the market by 2028.
Eliquis sales could also receive a blow in 2026, when a new negotiated price for the medicine comes into force for certain Medicare patients after negotiations with the federal government. These price conversations are a key provision of the inflation reduction law.
The second round of negotiations is aimed at 15 additional drugs and will establish new prices that will enter into force in 2028. That includes the medication Bristol Myers Pomalyst, which is used to treat blood cancer called multiple myeloma and different cancer that develops in people with HIV.
Pomalyst raised $ 658 million for the period, 24% less than the most annual period. Revlimid, a medicine used to treat adults with multiple myeloma, received $ 936 million in sales for the first quarter, 44% less than the same period of the previous year.
The income of the supposed growth portfolio of the company was $ 5.56 billion for the first quarter, 16% more than the most annual period.
Opdivo raised $ 2.27 billion in revenues for the first quarter, increasing 9% from the most annual annual period. That is the estimation of analysts above $ 2.16 billion for the quarter, said Streetacount.
Meanwhile, Cobenfy reserved $ 27 million in sales for the first quarter.
