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Bristol Myers SquibbCNBC
•Health
Health
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Bristol Myers Squibb said it will slash $2 billion in costs by the end of 2027 , expanding its ongoing cost savings effort to chart a path toward long-term growth.
The company also issued a full-year 2025 guidance that fell short of Wall Street's expectations, as some of the company's older drugs face competition from cheaper generics.
But Bristol Myers still reported fourth-quarter revenue and adjusted earnings that blew past expectations, boosted by Eliquis and its "growth portfolio" of drugs.
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95
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