Bristol Myers Squibb plans $2 billion in cost cuts by 2027, issues weak guidance

The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, on Dec. 27, 2023.Bristol Myers Squibb on Thursday 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. Bristol Myers said savings will be driven by organizational changes and efforts to streamline operations and will allow the company to invest in new science and drug brands expected to deliver growth. The pharmac ...