Bristol Myers Squibb Predicts 2025 Revenue Decline, Expands Cost-Cutting Measures

The pharmaceutical company forecasts lower-than-expected earnings and revenue as it faces generic competition for key cancer drugs.

Bristol Myers Squibb projects 2025 revenue of $45.5 billion, falling short of analysts' expectations of $47.4 billion and down from $48.3 billion in 2024.
The company anticipates 2025 earnings per share between $6.55 and $6.85, below the $6.92 per share forecast by analysts.
Generic competition is driving revenue declines for several key drugs, including Revlimid, Pomalyst, Sprycel, and Abraxane.
Bristol Myers announced an additional $2 billion in cost cuts by 2027, expanding its total cost-cutting program to $3.5 billion, with $1 billion in savings expected in 2025.
Despite weaker guidance, the company reported strong Q4 2024 results, with an 8% revenue increase to $12.3 billion, surpassing analyst estimates.