Bristol Myers Squibb beats on revenue, launches $1.5 billion cost cuts as it posts quarterly loss

The Bristol Myers Squibb research and development center at Cambridge Crossing in Cambridge, Massachusetts, US, on Wednesday, Dec. 27, 2023.Bristol Myers Squibb on Thursday reported first-quarter revenue that topped expectations as its blockbuster blood thinner Eliquis and several new drugs posted sales growth.But the pharmaceutical company swung to a quarterly loss due to one-time charges related to its recently closed deals. It also launched a program to cut $1.5 billion in costs by 2025, and said it woul ...