Bristol-Myers Squibb has a wide range of activities happening in the market. Its CEO warned that America's global lead in biopharma is not guaranteed, questioning Trump administration tariffs and health reforms in the midst of pledges to invest $40 billion in the U.S over the next five years. However, BMS also plans to layoff over 500 workers in New Jersey, and announced the closure of an Illinois site as part of a cell therapy manufacturing consolidation. The company faced a major setback as its heart disease drug failed to meet main goals in a late-stage study. Still, BMS continues to make strides in cancer treatment, gaining European Commission approval for Opdivo and topping quarterly estimates due to strong sales. A surprise miss in a schizophrenia drug trial led to a drop in the company's stock, but overall, the stocks outperformed competitors on the trading day. BMS plans to trim $2 billion in costs by 2027. Despite upcoming patent losses, the company reported better-than-expected results for Q1 2025, and CEO committed to increased dealmaking in 2025.
Bristol-Myers Squibb News Analytics from Tue, 10 Sep 2024 07:00:00 GMT to Fri, 16 May 2025 20:57:29 GMT -
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