Bristol Myers Squibb plans $2 billion in cost cuts by 2027, issues weak guidance
1. Bristol Myers plans $2 billion cost cuts by 2027 for long-term growth. 2. Company aims to offset revenue loss from expiring drug exclusivity soon. 3. 2025 revenue guidance falls short, projected at $45.5 billion vs. $47.36 billion. 4. Fourth-quarter revenue exceeded expectations at $12.34 billion. 5. Major drugs face generic competition, including Eliquis and Opdivo.