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 projects adjusted profits from $ 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. China is a critical market for Bristol Myers. The company previously described its “China 2030 strategy”, which is a plan to bring more of its medications to the Nation to address unattered medical needs in areas such as gastric cancer and include more Chinese patients in clinical trials.
But the new perspectives do not take into account the planned rates of President Donald Trump about the imported pharmaceutical products to the United States, Bristol Myers said.
In a profit call on Thursday, Bristol Myers Squibb CEO, Christopher Boerner, said the company appreciated the efforts of the Trump administration to increase the manufacture of the United States, but pointed out that “it must be done in a very reflective and deliberate way” in the pharmaceutical sector.
He added that it is “simply too soon to provide much more” about the company's expectations for specific pharmaceutical rates. Even so, Bristol Myers continues “mitigation efforts” to reduce the risks of any interruption in the supply chain and scarcity, Boerner said.
“We have a lot of flexibility to be able to move our manufacturing in case possible tariffs arise,” said the Financial Director of the David Elkins company in the call. He added that Bristol Myers has a wide global manufacturing network, which includes a significant presence in the United States.
Bristol Myers said Outlook's walk reflects the strength in its portfolio of new drug brands, and first quarter sales improvements of its portfolio of major medicines.
The results occur when Bristol Myers moves to reduce $ 2 billion in expenses at the end of 2027, which is at the top of $ 1.5 billion in planned cost cuts for the end of this year.
There is also a few days after the schizophrenia medicine recently approved by Bristol Myers, Cobenfy, disappointed in a large clinical trial, which leads some Wall Street analysts to substantially reduce its 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.
Boerner said: “There is a lot of uncertainty, whether related to tariffs, a possible economic recession or restructuring in the FDA and HHS.” It refers to the efforts of the Trump administration to review the administration of food and medicines and other federal health agencies under the Department of Health and Human Services.
But the company is still sure of its capacity “to deliver our patients, employees and shareholders,” he said.
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 brought $ 658 million for the period, 24% less than the previous year. 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.
