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4d ago

Bristol Myers Squibb Raises 2025 Forecast After Surpassing Q1 Expectations

The pharmaceutical giant reports $11.2 billion in revenue, driven by strong growth-drug sales, while addressing tariff risks and cost-cutting plans.

Test tubes are seen in front of a displayed Bristol Myers Squibb logo in this illustration taken, May 21, 2021. REUTERS/Dado Ruvic/Illustration
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Overview

  • Bristol Myers Squibb posted $11.2 billion in Q1 revenue and $1.80 adjusted EPS, exceeding analyst estimates and boosting its full-year 2025 guidance.
  • The company raised its revenue outlook to $45.8 billion-$46.8 billion and adjusted earnings forecast to $6.70-$7 per share for 2025.
  • Growth-drug sales rose 16% to $5.56 billion, with Opdivo generating $2.27 billion, offsetting declines in legacy products like Eliquis and Revlimid.
  • BMS announced an additional $2 billion in cost reductions by 2027, building on $1.5 billion in planned cuts for 2025 to enhance profitability.
  • The company emphasized its global supply chain flexibility to mitigate potential U.S.-China tariff impacts while advancing its 'China 2030 Strategy' to expand in a key growth market.