File Photo: Bristol Myers Squib Research and Development Center at Cambridge Crossing at Cambridge, Massachusetts on December 27, 2023.
Adam Glenzmann | Bloomberg | Getty images
Bristle myers squib On Thursday, defeated the first quarter estimate and increased its revenue and profit guidance for the year, as the drug manufacturer cuts the cost.
The company now hopes that the revenue of 2025 will come between $ 45.8 billion and $ 46.8 billion, Previous outlook About $ 45.5 billion. Bristol Myers also projects a full-year-year-year-year-year-year-year-year-year-to-$ 70 to $ 6.70 to $ 6.55 to $ 6.85 per share.
In particular, the company stated that its guidance amendments included the approximate impact of the current tariff on the US products sent to China. China is an important market for Bristol Myers. The company has Earlier mentioned Its “China 2030 strategy,” which is one Plan More Chinese patients were included in areas such as gastric cancer to bring more medicines to the nation to address non -medical requirements and more in clinical trials.
But the new approaches are not responsible for any of the President Donald Trump ‘Bristol Myers said that the planned tariffs on imported pharmaceuticals in the US, Bristol Myers said.
In an earning call on Thursday, Bristol Myers Squib CEO Christopher Borner said that the company appreciated the efforts of the Trump administration to increase American manufacturing, but said he said it “needs to do” very thoughtful and deliberately “.
He said that this is “very early to provide too much” on the expectations of the company for drug-specific tariffs. Nevertheless, the Bristol Myers continues to “mitigate efforts” to reduce the risk of any disruption of the supply chain and the deficiency, the Borner said.
The company’s CFO David Elkins said on the call, “We have a tremendous amount of flexibility to be able to move our manufacturing.” He said that Bristol is a comprehensive global manufacturing network of Myers, including a significant appearance in the US
Bristol Myers stated that Outlook hike reflects strength in its portfolio of new drug brands, and is better than the first quarter sales better than the old drugs.
The results come when Bristol Myers covers $ 2 billion in expenses by the end of 2027, which topped the planned costs by the end of this year at the top of $ 1.5 billion.
It also comes a few days after Bristol Myers’ recently approved schizophrenia drug, cobenfi, Disappointed in a large clinical testSome Wall Street analysts significantly reduced their multicibilian-dollar sales forecasts for treatment.
The company is banking on cobenfy and other so-called development portfolio drugs, which is compensating for loss of revenue from top-sale remedies to lose specificity on the market, including its blockbuster blood thinner allychis and cancer immunotherapy opedivo.
Boerner said “there is a lot of uncertainty, whether related to tariffs, potential economic recession or reorganization in FDA and HHS.” He is referring to the efforts of the Trump administration Overhal Food and Drug Administration and other federal health agencies under the Department of Health and Human Services.
But the company is confident in its capacity “to distribute to our patients, employees and shareholders,” he said.
What Bristol Myers here told for the first quarter that Wall Street expected that based on a survey of analysts by LSEG:
- earnings per share: $ 1.80 adjusted vs $ 1.49 expected
- Income: $ 11.2 billion vs $ 10.7 billion is expected
Bristol Myers posted a net income of $ 2.5 billion for the first quarter, or $ 1.20 per share. It compares with a net loss of $ 11.9 billion or loss of $ 5.89 per share for the year-irreterner period.
Except for some objects, it adjusted the income per share of $ 1.80 for the quarter.
The revenue of the pharmaceutical giant fell 6% from the same period to $ 11.2 billion a year ago.
Elixis sold $ 3.57 billion in sales for the quarter, which was 4% below the year-old period. According to estimates compiled by the Strikint, there is above $ 3.34 billion compared to analysts.
Blood Thinner, which shares with Bristol Myers FizerThe specificity of the market is expected to be lost by 2028.
Elixis sales can also take a hit in 2026, when A New negotiation price After negotiations with the federal government, the drug becomes effective for some Medicare patients. Those price talks are a major provision of inflation reduction act.
Second round of talks The targets will set 15 additional drugs and new prices that will be applicable in 2028. This includes Bristol Myers medicine Pomalist, which is used to treat blood cancer and a separate cancer called myeloma that develops in people with HIV.
Pomalist was brought to $ 658 million for a period of 24% a year ago. Revlimid, the drug used to treat adults with several myeloma, was 44% below the same period of a year ago, in the sale of $ 936 million for the first quarter.
Revenue from the company’s so-called growth portfolio was $ 5.56 billion for the first quarter, 16% from the year-era period.
OPDIVO was brought to $ 2.27 billion in revenue for the first quarter, which increased by 9% from the period of year-ears. The Strikunt said that this is above an estimate of $ 2.16 billion analysts for the quarter.
Meanwhile, Cobnfi booked $ 27 million in sales for the first quarter.
