Loading...
Loading...
Bristol Myers Squibb Co BMY kicked off the Big Pharma presentations at the J.P. Morgan healthcare conference.
- The execs said the drugmaker aims to grow despite generic and biosimilar competition by expanding its key brands and advancing its pipeline.
- See the corporate presentation here.
- The Company also sees opportunity in "disciplined business development." Bristol Myers' new product portfolio can deliver $25 billion or more by 2029, execs figure.
- The Company is planning seven launches from its mid-to-late-stage pipeline. BMY has 50 drugs in its early pipeline and can lean on $45 billion - $50 billion in free cash flow where needed.
- As Bristol Myers weathers Revlimid's upcoming loss of exclusivity, it expects megabrands Opdivo and Eliquis to keep on churning in the coming years, delivering many billions in additional sales by 2025.
- Reblozyl, a first-in-class anemia drug approved in 2020, could generate $4 billion by 2029.
- BMS said it plans to continue scouting for small and mid-sized "bolt-on" transactions that can refresh its pipeline on the dealmaking side.
- Meanwhile, the Company is working on paying down debt and recently authorized a whopping $15 billion share buyback program.
- FY22 Guidance: Bristol Myers sees total sales of ~$47.0 billion or low single-digit growth from FY21.
- The Company sees Revlimid sales of $9.5 billion - $10 billion and expects FY22 diluted Non-GAAP EPS of ~$7.65 - $7.95.
- Price Action: BMY shares are up 3.11% at $64.79 during the market session on the last check Monday.
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in